L Brands Sets New $250 Million Stock Buyback Program

L Brands Inc. said on Friday it has authorized a new $250 million share repurchase program. The retailer, with store brands including Victoria's Secret, Bath & Body Works and Henri Bendel, said the new program includes the $600,000 remaining in the previous $250 million program. The stock, which was still inactive in premarket trade, has slipped 0.5% year to date while the S&P 500 has gained 3%.