Intimate beauty
This article was originally published in The Rose Sheet
Executive Summary
VP and CEO Michael Newman to leave Intimate Brands at year-end, IBI announces at third quarter earnings meeting Nov. 14. Newman, who has been with the firm since June, is resigning to focus on personal interests. An external search for a successor is underway. Bath & Body Works opened 110 stores in the period and will open 20 more in the fourth quarter. BBW recorded 5% gain in comparable store sales and 27% increase in operating income in the third quarter. IBI net sales were $925 mil., a 14% increase over the year-ago period, and net income jumped 12% to $43 mil
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