God also hates the perversion of justice, especially when it victimizes widows and orphans (Exodus 22:22; Deuteronomy 27:19; Isaiah 1:23). God is perfectly just and commands human beings to model that justice. Proverbs 11:1 says, “The LORD detests dishonest scales, but accurate weights find favor with him.” When we choose to seek our own interests at the expense of the rights of others, we have perverted justice. Some examples of perverted justice are the taking and offering of bribes (Proverbs 17:23), oppressing the poor (Amos 5:12), killing the innocent (Exodus 23:7), and bearing false witness (Exodus 23:1; Proverbs 19:5). God loves justice, and godly people will love it, too. God desires His children to actively defend those who are being oppressed (Isaiah 1:17; Micah 6:8).
- Shares of L Brands are down nearly 35% since January.
- Victoria’s Secret has lost touch with many female shoppers, and some worry its Bath & Body Works store may run out of steam.
- In August, L Brands CEO Les Wexner alleged in a letter he wrote to his charitable foundation that accused child sex trafficker Jeffrey Epstein had misappropriated more than $46 million of his personal fortune.
- In July, L Brands disclosed it had hired outside counsel to review the company’s relationship with Epstein.
A woman walks past Victoria’s Secret store at Huaihai Road in Shanghai, China.VCG | Getty Images
It’s been quite the year for L Brands.
Sales continued to decline at its prized Victoria’s Secret stores. It faced an activist campaign that led to a board shakeup. Then came unwanted attention for its ties to accused child sex trafficker Jeffrey Epstein. That relationship is under review by the company. But this week the focus will be on longtime Chairman and CEO Les Wexner at the company’s investor day.
Wexner, along with a number of L Brands executives, including its heads of Bath & Body Works, Pink and Victoria’s Secret will take the stage Tuesday at the Hilton Columbus at Easton to give an update on the state of the company’s business.
When Paper Becomes Worthless
Shares of L Brands are down nearly 35% since the start of the year. Over the past three years, its shares have fallen cumulatively nearly 40%, while shares of the S&P 500 have grown nearly 11%, according to Factset.
Last quarter, the company reported same-store sales that fell 1%, worse than expected growth of 0.3%. Its marquee store, Victoria’s Secret, has lost touch with women who are eschewing its sexy lacy brand for more comfortable styles. Its Bath & Body Works store has helped drive the company’s growth, but there are some concerns that the engine may slow.
Bath & Body Works now comprises 35% of L Brands’ sales, up from 27% five years ago, according to Factset.
L Brands is making efforts to revive Victoria’s Secret’s performance. It is closing 53 Victoria’s Secret stores, and replacing the brand’s marketing chief after a decades-long stint, along with the heads of Victoria’s Secret and its younger Pink brand.
L Brands has said it is “rethinking” its annual Victoria’s Secret fashion show. The annual event has drawn fewer viewers in recent years to watch its “Angels” strut down the catwalk. Wexner has said network television is no longer the “right fit” for the event, and some have suggested the company may opt to stream the event instead.
It’s also looking to improve its Victoria’s Secret’s merchandise, differentiating more clearly between its cheaper youth-focused line Pink, and more adult Victoria’s Secret, as well as moderate discounts across the board. InMarch, it reentered the swimsuit category after pulling out of the business in 2016. The move cost it $500 million in annual sales.
“Time will tell whether or not this strategy will be successful, but this will be the new leadership’s opportunity to make the case that this will work when past attempts have not,” wrote Jamie Merrimanat Bernstein.
Its Bath & Body Works chain, meantime has been performing stronger, despite challenges facing mall-based retailers. But some analysts, including those at Jefferies, worry what challenges lie ahead for the brand as sales of highly profitable candles slow and margins fall.
Books that Are Going Viral
“A declining Bath & Body Works scenario is not contemplated at all by the Street so beware,” the firm’s analysts recently cautioned investors.
The company has told investors to expect 2019 full-year adjusted expecting earnings per share in a range of $2.30 to $2.60.
Board in the spotlight
Another question that may, or may not, be answered in Columbus is what will happen to L Brands’ board, including Wexner, after a year with unprecedented disruption. The 81-year-old retail tycoon has been on the board of the company he founded for more than five decades.
For much of that time, according to a letter delivered earlier this year by hedge fund by Barington Capital, he surrounded himself with a board that lacked the “independence necessary to perform its oversight functions on behalf of shareholders.” The firm, in the March letter, pointed out the ties that many of its directors have to the Columbus, Ohio, community, while also calling into question its stock performance and calling for a split of the Victoria’s Secret and Bath & Body Works brands.
“Lengthy director tenure and social and business ties with the CEO can compromise a director’s independence and weaken board oversight and decision-making … it is unclear that the Board as currently comprised has the independence to effectively oversee you as Chief Executive Officer,” wrote Barrington CEO James A. Mitarotonda.
L Brands board members include Wexner’s wife, Abigail, 57. Robert H. Schottenstein, 66, and Stephen D. Steinour, 60, are directors for both L Brands and the Wexner Medical Center. Dr. E. Gordon Gee, 75, was president of Ohio State University, in addition to guiding a number of other universities.
Are We Living in the Last Days?
In April, L Brands reached a truce with Barington that later added two independent directors to the company: Anne Sheehan, chair of the Securities and Exchange Commission’s investor advisory committee, and Sarah Nash, CEO of Novagard Solutions.
But the agreement came before new revelations pertaining to Wexner’s ties to Epstein surfaced. As a result, Wexner’s 56-year tenure at the company’s board and the board’s ability to independently oversee him is once again in front of mind.
In July, L Brands disclosed it had hired outside counsel to review the company’s relationship with Epstein. L Brands has said it cut ties with Epstein nearly 12 years ago and called his alleged crimes “abhorrent.” According to later reports, Epstein had attempted to be part of the recruitment for Victoria’s Secret lingerie models.
In a letter he wrote to his charitable foundation in August, Wexner alleged that Epstein had misappropriated more than $46 million of his personal fortune. Wexner said he learned that money was missing only after he decided in 2007 to sever his relationship with Epstein after Epstein was placed under investigation for alleged sexual misconduct with young girls in Florida. Wexner and his legal team have been providing documents to federal investigators that he believes demonstrate “all sorts of irregularities and theft.”
Epstein died by suicide last month while in jail facing federal sex-trafficking charges.
Epstein’s connections with a number of high profile executives have emerged in recent months. MIT Media Lab director Joichi Ito resigned on Saturday following a public outcry over his financial ties to Epstein. Ito also resigned from the boards of three organizations: the MacArthur Foundation, the John S. and James L. Knight Foundation and The New York Times.
Wexner, who did not speak during the company’s most recent earnings call with investors, is expected to take the stage first on Tuesday. Source
Wexner, Leslie: The money behind the money.
Name found in Epstein’s black book.
Retailing billionaire Leslie Wexner was Epstein’s only known client, the man who transferred the rights to that famous townhouse to him for free in 2011, years after they were supposed to no longer be in contact. The relationship stretches back to the late 1980s, a time when Wexner’s star was on the rise. A 1985 cover story for New York visited him in Columbus, Ohio, where his retail empire was built. Journalist Julie Baumgold described how he, not unlike Epstein, was a self-made man, addicted to self-improvement, how he didn’t know how to pronounce La Grenouille correctly and wanted to have his picture taken at the Whitney, and noted that “Wexner is what used to be known as a ‘confirmed bachelor.’ ” (He later married and has four children.) Not long after that piece, he was introduced to Epstein, who had left Bear Stearns under a cloud and was broke. He and Wexner hit it off, and Epstein soon began managing Wexner’s finances. Wexner’s credibility lent plausibility to the notion that Epstein managed billions from his Caribbean-island redoubt. Associates of Wexner, who is now worth $6.6 billion, didn’t understand the attraction. Soon after the men began working together, Epstein moved into Wexner’s Upper East Side mansion. Wexner bought the seven-story townhouse in 1989 for $13.2 million but apparently lived there only for a few months. The title was transferred in 2011 to a Virgin Islands entity controlled by Epstein. It is now worth $56 million. —Michelle Celarier and Carl Swanson
The people spreading concrete information on the dangers of globalism are accomplishing far more than those sitting around buying bitcoin or passing around Q-cult nonsense.
Let Me Make This Abundantly Clear. (I Am Apolitical) While I Have a General Distaste for Politicians No Matter the Party They Belong To, I Am Unashamedly Politically a Bible Believing Conservative Christian. I Have a Severe Distrust of Government. I Believe It Is the Most Inefficient and Ineffective Way to Accomplish Most Things. While I Strongly Disagree with Liberals/Progressives and Conservative on Most Political Issues, and While I Believe Liberals/Progressives and Most Politicians Are Terribly Misguided and Naive About What Big Government Will Eventually Result In, I Strive to Not Question Their Motives. at the Same Time, While I Find Myself in Agreement with Conservative Politicians on Some Issues, I Do Not Believe Electing Republicans Is the Answer to Everything. for Me, Very Sadly, the Main Difference Between Republicans and Democrats Is How Quickly They Want to Drive the Car Towards the Cliff. Simply Put, I Do Not Believe the Government Is the Solution for Everything. I Do Not Place Any Faith, Trust, or Hope in Any Politicians to Fix What Is Wrong with the World. “Come Lord Jesus!” (Revelation 22:20)
Education is useless without the bible (Daniel Webster)
Usually, the Lord doth no great thing for or against his people, without giving warning of it before it comes.
John Wesley who said that what we tolerate in our generation, will be embraced by the next. Wesley is 100% correct! We are living in sick times.
Evil Exists So Spiritual Warfare Becomes Necessary!
- Corinthians 4:8-11 New King James Version (NKJV)
- We are hard-pressed on every side, yet not crushed; we are perplexed, but not in despair; 9. persecuted, but not forsaken; struck down, but not destroyed— 10. always carrying about in the body the dying of the Lord Jesus, that the life of Jesus also may be manifested in our body. 11. For we who live are always delivered to death for Jesus’ sake, that the life of Jesus also may be manifested in our mortal flesh.
Satan has power over (LGBTQE-TRANS PEOPLE). The “sons of disobedience” referred to in Ephesians 2:2 are those who have not trusted Christ as Lord and Savior (cf. Acts 26:18; 2 Corinthians 4:4; Revelation 13:12). The demons are also under the rule of Satan (Matthew 12:24), and one of his titles is “prince of demons” (Matthew 9:34). Satan has a kingdom (Matthew 12:26) and a throne (Revelation 2:13). Satan is called a prince because he is a ruler and possesses the power to manifest evil in the world through influencing people and commanding demons.
HNewsWire- “All political language is designed to make lies sound truthful and murder respectable.” Just look at some of our modern-day examples: torture is “enhanced interrogation techniques”; murder is “collateral damage”; the aggression initiation of war is a “pre-emptive strike”; the theft of taxpayers’ money is a “bailout”, and the theft of depositors’ money in a bank is a “haircut” or “bail-in”.In a blatant example of Newspeak, the New World Order controllers (through the psychiatric DSM V) have tried to rename pedophiles as “minor-attracted persons” and redefine pedophilia as “sexual orientation”. This makes no sense since sexual orientation has to do with gender, not age, with whether you are attracted to males or females, not how old they are. There are even organizations (like B4UAct.org) which are claiming that pedophiles are being unfairly stigmatized for their feelings!
The Cult of LGBTQ is often a cover for child-molesting perverts
Tagged Under: abuse, children’s health, gender-confused, gender issues, gender madness, the left cult, LGBT, un-godly Mob, Lunacy, mutilation, transgender, Child molesting perverts LGBTQE- E For Evil
drag queens, perverts
Hunted by the Mob, Found by Christ
The gripping memoirs of the founder of HNewsWire. A binge-worthy afternoon read.
James 1:27 - What Does It Command?
Religion that God accepts is to look after orphans and widows. Click Here!
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