In 2003, Limited Brands Inc., the mega-chain apparel company, found itself at a critical juncture. Founded in 1963, its namesake store, The Limited, was the first specialty shop of its kind to offer fashion-forward merchandise to women in their 20s and 30s. Over the next four decades, it experimented with a wide range of retail categories, acquiring many companies that fell outside of its core business. More recently, the company decided to focus on three areas - lingerie, personal care, and apparel - and divest those brands that were inconsistent with its new strategy. How should it manage its remaining portfolio? What is the best way to maximize value for shareholders? In this case, students take the perspective of Limited Brand's CFO as she tackles questions of financial strategy.

Case id: 090510