Victoria’s Secret CEO Sharen Turney announced her resignation on Friday, concerning investors and briefly crash the parent company’s shares after the news. However, the company had assured investors that the company will retain its success with the parent company’s founder and CEO Les Wexner assuming the role and Turney remaining as the lingerie brand’s advisor.
Victoria's Secret owner became a billionaire as his company soared 71 percent after its initial public offering in the Hong Kong exchange in October.
A negotiation between the U.S. company and Italian businessman Antonio Percassi to bringing Starbucks to Italy is already in process. The agreement is set to be finalized this coming Christmas according to the newspaper Corriere della Serra.
Victoria's Secret, the leading lingerie brand dominating the 35% of the market is losing $9 billion opportunity for missing out plus-sized underwear in the line.
A resurgence in spending helped by an improving U.S. economy bolstered back to school season sales for retailers in September, but stagnant wages may force more discounting in the coming months, keeping pressure on margins.
The price of Bitcoin went over $1,000 on Mt. Gox again today after Zynga Inc said it would be accepting the virtual currency, Bloomberg reported.