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L Brands launches $250M share buyback

U.S. apparel retailer L Brands Inc. authorized a share repurchase program for $250 million of the company's shares, according to a March 8 SEC filing.

The buyback includes the remaining $23.1 million outstanding shares under its previous repurchase program.

The move follows the release of the Victoria's Secret owner's fourth-quarter and full-year 2017 results, posting full-year net sales of $12.63 billion, up from $12.57 billion in 2016.