Limited Selling Express Chain, Explores Options

COLUMBUS, OH-Limited Brands is selling a majority of its Express chain to private-equity firm Golden Gate Capital for $548 million, and executives at the retailer are also considering the sale of the company’s flagship Limited chain. The deal, which the parties expect to close in July, gives Golden Gate a 67% interest in the 631-unit chain.

While it is selling the Express apparel chain, the company is also exploring a sale of its 253 Limited stores. Same-store sales at Express increased 9% year over year in April and sank 6% at Limited.

As the company reduces its interest in its mall-based apparel chains, executives plan to grow its stakes in intimate wear and beauty products. The company is expanding its Victoria’s Secret and Bath & Body Works chains, which currently total more than 2,500 units.