Nate McCullough | News Editor
770-718-3431 | news@gainesvilletimes.com
The Times, Gainesville, Georgia
Friday, February 21,2020
A sign of changing times
ALAN DIAZ I Associated Press
In this June 7, 2017 photo, shoppers look at merchandise at a Victoria’s Secret store in Hialeah, Fla.
Struggling Victorias Secret sold as women demand comfort
BY ANNE D’INNOCENZIO
AND MICHELLE CHAPMAN
Associated Press
New Mexico
sues Google
over collection
of kids’ data
BY SUSAN MONTOYA BRYAN
Associated Press
ALBUQUERQUE — New Mexico’s attor
ney general sued Google Thursday over
allegations the tech company is illegally col
lecting personal data generated by children
in violation of federal and state laws.
The lawsuit filed in U.S. District Court
in Albuquerque claims Google is using its
education services package that is mar
keted to school districts, teachers and par
ents as a way to spy on children and their
families.
Attorney General Hector Balderas said
that while the company touts Google Educa
tion as a valuable tool for resource-deprived
schools, it is a means to monitor children
while they browse the internet in the class
room and at home on private networks. He
said the information being mined includes
everything from physical locations to web
sites visited, videos watched, saved pass
words and contact lists.
The state is seeking unspecified civil
penalties.
“Student safety should be the number one
priority of any company providing services
to our children, particularly in schools,” Bal
deras said in a statement. “Tracking student
data without parental consent is not only ille
gal, it is dangerous.”
Google dismissed the claims as “factually
wrong,” saying the G Suite for Education
package allows schools to control account
access and requires that schools obtain
parental consent when necessary.
“We do not use personal information from
users in primary and secondary schools to
target ads,” said company spokesman Jose
Castaneda. “School districts can decide how
best to use Google for education in their class
rooms and we are committed to partnering
with them.”
Unlike Europe, the U.S. has no overarching
national law governing data collection and
privacy. Instead, it has a patchwork of state
and federal laws that protect specific types
of data, such as consumer health, financial
information and the personal data generated
by younger children.
New Mexico’s claim cites violations of the
state’s Unfair Practices Act and the federal
Children’s Online Privacy Protection Act,
which requires websites and online services
to obtain parental consent before collecting
any information from children under 13. In
a separate case, Google already has agreed
to pay $170 million combined to the Federal
Trade Commission and New York state to
settle allegations its YouTube video service
collected personal data on children without
their parents’ consent.
According to the New Mexico lawsuit,
outside its Google Education platform, the
company prohibits children in the U.S.
under the age of 13 from having their own
Google accounts. The state contends Google
is attempting to get around this by using its
education services to “secretly gain access
to troves of information” about New Mexico
children.
The attorney general’s office filed a simi
lar lawsuit against Google and other tech
companies in 2018, targeting what Balderas
described as illegal data collection from
child-directed mobile apps. That case still is
pending in federal court, but the companies
have denied wrongdoing.
The latest lawsuit claims more than 80 mil
lion teachers and students use Google’s edu
cation platform. Balderas said in a letter to
New Mexico school officials that there was
no immediate harm if they continue using the
products and that the lawsuit shouldn’t inter
rupt activities in the classroom.
NEW YORK — Victoria’s Secret,
which once defined sexy with its leggy
supermodels in their lacy bras and over
sized angel wings, has a new owner.
Now, the big question is whether the
once sought after but now struggling
brand can be reinvented for a new gen
eration of women demanding more com
fortable styles.
The company’s owner, L Brands, said
Thursday that the private-equity firm
Sycamore Partners will buy 55% of Vic
toria’s Secret for about $525 million. The
Columbus, Ohio, company will keep the
remaining 45% stake. After the sale, L
Brands will be left with its Bath & Body
Works chain and Victoria’s Secret will
become a private company.
Les Wexner, 82, who founded the par
ent company in 1963, will step down as
chairman and CEO after the transac
tion is completed and become chairman
emeritus. Wexner has been grappling
with his own troubles, including questions
over his ties to the late financier Jeffrey
Epstein, who was indicted on sex-traffick
ing charges.
The selling price for Victoria’s Secret
signifies a marked decline for a brand
with hundreds of stores that booked about
$7 billion in revenue last year. Shares of
L Brands slid more than 7% Thursday
though they recovered somewhat by late
afternoon. Shares were down nearly 4%,
or 88 cents, to close at $23.42.
In a statement, Wexner said the deal
will provide the best path to restoring Vic
toria’s Secret’s businesses to their ‘’his
torical levels of profitability and growth.”
The deal will also allow the company to
CALHOUN — A flooring manufacturer
plans an expansion in northwest Georgia
that the governor says will create 268
jobs.
An increase in demand for luxury
vinyl flooring led Mannington Mills, Inc.,
to buy a 10.5-acre (4ha 2491) site for its
third expansion in two years in Calhoun,
Gov. Brian Kemp’s office said in a news
release Thursday. The company, a lead-
reduce debt and Sycamore will bring a
“fresh perspective and greater focus to
the business," he said.
To successfully turn around Victoria’s
Secret, Sycamore will need to change
up the corporate culture, reinvent the
fashions and redesign the stores to make
them more contemporary, experts say.
Sycamore manages a $10 billion portfo
lio including such struggling retailers as
Belk, Hot Topic and Talbots.
The management team at Victoria’s
Secret essentially was designing what
men want, not what women want, said
Neil Saunders, managing director of Glo-
balData Retail.
“The brand is very embedded in the
past,” said Saunders. “It was always about
men feeling good. It should be about mak
ing women feel good about themselves.”
Victoria’s Secret had a long unpar
alleled run of success. The brand was
founded by the late Roy Larson Raymond
in the late 1970s after he felt embarrassed
about purchasing lingerie for his wife.
Wexner, the founder of the then Limited
Stores Inc., purchased Victoria’s Secret in
1982 and turned it into a powerful retail
force. By the mid-1990s, Victoria’s Secret
lit up runways and later filled the internet
with its supermodels and an annual tele
vision special that mixed fashion, beauty
and music.
That glamour has faded and so have
sales in the last few years. The show was
canceled last year, and shares of Victoria
Secret’s parent have gone from triple dig
its less than five years ago to a quarter of
that today.
Victoria’s Secret struggled to keep up
with competition and failed to respond
to changing tastes among women who
want more comfortable styles. Rivals like
Adore Me and ThirdLove, which have
ing manufacturer of residential and
commercial flooring, has had facilities
in Georgia for more than 50 years, the
release says.
“Acquisition of this site is part of
Mannington’s long-term growth invest
ment plan for the Northwest Georgia
area, and we were pleased to once
again work with the Georgia Depart
ment of Economic Development on the
sprouted up online and marketed them
selves heavily on social media platforms
like Instagram, have focused on fit and
comfort while offering more options for
different body types. Meanwhile, Ameri
can Eagle’s Aerie lingerie chain, which
partners with women activists like Manu-
ela Baron, has also lured customers away
from Victoria’s Secret.
And in the era of the #MeToo move
ment, women are looking for brands that
focus on positive reinforcement of their
bodies.
“Victoria’s Secret will need to
empower women, not make them spec
tacles,” said Jon Reily, senior vice
president and global head of commerce
strategy at digital consultancy Isobar.
Stacey Widlitz, president of SW Retail
Advisors, a retail consultancy, said that
Victoria’s Secret designs in the last few
years were going in the opposite direction
of what women wanted, ever sexier and
poorer quality.
And while last year Victoria’s Secret
started featuring more diverse models,
including its first openly transgender
model, the moves fell short.
Victoria’s Secret suffered a 12% drop
in same-store sales during the most recent
holiday season. L Brands said Thursday
that same-store sales declined 10% at
Victoria’s Secret during the fourth quar
ter. Bath & Body Works, which has been
a bright spot, enjoyed a 10% increase.
The skincare chain represents more than
80% of L Brands’ operating profit.
“The (Victoria’s Secret) brand has lost
its way, while the lingerie market is not
large or high growth, and has become
commoditized,” Randal Konik, an analyst
at Jefferies, wrote Thursday. “Further
more, with athleisure taking over, the
need for regular bras continues to wane.”
project,” Russell Grizzle, president and
CEO of Mannington Mills, said in the
release.
Georgia was the top state for floor cov
ering products in 2019, with a total export
value of $485.4 million, the release says.
Most of the state’s floor covering manu
facturers are located in its northwest
corner.
Associated Press
Flooring company plans expansion, 268 jobs in Calhoun
Stock Exchange Highlights
1
NYSE
14,061.48 -25.65
B Nasdaq
V 9,750.96 -66.22
Gainers ($2 OR MORE)
Name Last Chg %Chg
BlueLinx
CmtyHIt
Nautilus
Dominos
LumberLiq
Tenneco
NL Inds
Intelsat
Qudian
GasLogPt
19.50 +5.64 +40.7
6.72 +1.91 +39.7
3.84 +.91 +31.1
373.16 +76.06 +25.6
9.69 +1.52 +18.6
+1.60 +17.3
+.54 +16.1
+.53 +13.2
+.27 +11.3
+.36 +8.9
10.87
3.90
4.54
2.66
4.40
Losers (S2
Name Last
OR MORE)
Chg %Chg
Mednax 20.96
Aarons 45.45
FangHIdrs 2.21
SixFIags 31.89
BlueAprrs 3.10
Invitae 23.82
Valmont 134.68
WarrMet
CarrSrv
Acornlnt
17.71
22.20
14.55
-5.63 -21.2
-10.70 -19.1
-.47 -17.5
-6.13 -16.1
-.50 -13.9
-3.68 -13.4
-19.53 -12.7
-2.47 -12.2
-2.80 -11.2
-1.76 -10.8
Most Active
($1 OR MORE)
Name Vol (00) Last Chg
VirgnGal
Sprint
MorgStan
FordM
BkofAm
Pfizer
GenElec
AuroraC
Yamana g
L Brands
1349447
607374
585118
522946
425650
407413
395334
355851
346774
332725
37.26 -.09
9.48 -.01
53.75 -2.56
8.03 +.03
34.85 +.13
35.85 -.38
12.53
1.68
-.08
-.03
4.43 +.01
23.42 -.88
Diary
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
1,603
1,040
91
2,734
220
58
3,820,896,200
Gainers ($2 OR MORE)
Name Last Chg %Chg
BricklIBi rs 3.06 +1.24 +68.1
Stamps.cml 57.99 +62.53 +65.5
AdestoTc 12.35 +4.36 +54.6
TSRh 6.00 +1.90 +46.4
AscenaR rs 6.11 +1.84 +43.1
Schrodin n 47.62 +11.90 +33.3
BioanlySys 5.71 +1.40 +32.5
CanGen hrs 5.44 +1.22 +28.9
ConsolCom 6.97 +1.45 +26.3
Morphicn 17.03 +3.08 +22.1
Losers ($2
Name Last
OR MORE)
Chg %Chg
TivityHIth 12.50
CBS B 29.29
BioXcelT 34.20
Cellectar 2.29
CBS A 33.70
DiscIncB 34.37
OraSure 6.13
Agenus 3.79
CommScpe 12.59
AtlanAmer 2.25
■10.43 -45.5
-6.38 -17.9
-6.94 -16.9
-.40 -14.9
-5.79 -14.7
-5.63 -14.1
-.99 -13.9
-.60 -13.7
-1.90 -13.1
-.32 -12.5
Most Active ($1 0R more)
' Vol (00) Last Chg
Name
AMD 739478 57.27 -1.63
PlugPowr h 697337 5.51 -.21
CBS B 443342 29.29 -6.38
E-Trade 423546 54.73 +9.80
Groupon 402372 1.70
Microsoft 367314 184.42 -2.86
BricklIBi rs 328958 3.06 +1.24
FuelCell rs 295241 2.61 -.18
Intel 264303 65.45 -1.66
Apple Inc 250329 320.30 -3.32
Diary
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
1,608
1,350
171
3,129
198
50
2,645,348,473
Stocks of Local Interest
Name Ex Div Yld PE Last
YTD
Chg %Chg
AFLAC
1.12
2.2
16
5149
-.06
-2.7
HomeDp
5.44
2.2
25
247.02
+3.38
+13.1
AT&T Inc
2.08
5.4
17
38.61
+.17
-1.2
Intel
1.32
2.0
22
65.45
-1.66
+9.4
AbbottLab
1.44
1.6
47
88 46
-.90
+1.8
IBM
6.48
4.3
16
151.22
+.36
+12.8
AMD
57.27
-1.63
+24.9
JohnJn
3.80
2.6
25
148.37
-.57
+1.7
Altria
3.36
7.4
14
45.56
+42
-8.7
L Brands
1.20
5.1
9
23.42
-.88
+29.2
Apple Inc
3.08
1.0
29
320.30
-3.32
+9.1
Lowes
2.20
1.7
28
126.57
+3.13
+5.7
ATMOS
2.30
1.9
22
119.23
-.37
+6.6
McDnlds
5.00
2.3
33
215.08
-.55
+8.8
AuroraC
1.68
-.03
-22.2
Merck
2.44
3.0
31
82.49
+.49
-9.3
AutoZone
191082.52+15.73
-9.1
Microsoft
2.04
1.1
36
184.42
-2.86
+16.9
AveryD
2.32
1.7
39
136.77
+4.5
MorgStan
1.40
2.6
11
53.75
-2.56
+5.1
BP PLC
246
6.8
10
35.98
-.27
-4.7
NorflkSo
3.76
1.8
22
210.81
+1.64
+8.6
BkofAm
.72
2.1
12
34.85
+.13
-1.1
OfficeDpt
.10
3.7
8
2.68
+.18
-2.2
Boeing
8.22
2.4
31
336.28
-2.02
+3.2
Penney
.77
+.06
-31.3
BricklIBi rs
3.06
+1.24
+104.0
PepsiCo
3.82
2.6
16
145.16
-.37
+6.2
BrMySq
1.80
2.8
22
65.17
-.54
+1.5
Pfizer
1.52
4.2
14
35.85
-.38
-8.5
CSX
1.04
1.3
19
80.45
+.28
+11.2
PhilipMor
4.68
5.4
18
87.44
-.44
+2.8
CampSp
140
2.9
17
47.74
-.05
-34
PlugPowr h
5.51
-.21
+74.4
Caterpillar
4.12
3.0
12
136.93
+.07
-7.3
Primerica
1.60
1.2
17
136.40
+.71
+4.5
ChesEng
1
48
-42.0
ProctGam
2.98
2.4
29
126.58
+1.14
+1.3
Chevron
5.16
4.7
15
109.81
-.93
-8.9
RegionsFn
.62
3.7
12
16.54
+.11
-3.6
Cisco
1.44
3.1
19
46.85
+.56
-1.6
Snaplnc A
16.92
-.28
+3.6
Citigroup
2.04
2.6
11
78.22
+.17
-2.1
SouthnCo
2.48
3.6
33
69.81
+1.20
+9.6
ClevCIiffs
.24
3.3
2
7.19
-.41
-13.8
Sprint
5
9.48
-.01
+82.0
CocaCola
1.64
2.7
36
59.72
-.05
+7.9
SynovusFn 1.20
3.3
10
36.25
+.12
-7.5
ConAgra
.85
2.8
20
29.88
+.08
-12.7
3M Co
5.88
3.7
22
158.56
-.78
-10.1
Cummins
5.24
3.1
47
167.12
+.59
-6.6
ToughBIt
.20
+.05
+2.0
Disney
1.76
1.3
19
140.37
-.93
-2.9
TruistFn
1.80
3.3
14
55.31
+.70
-1.8
Dupont rs
1.20
2.3
6
52.55
-.95
-18.1
Tyson
1.68
2.1
14
78.80
+.97
-13.4
E-Trade
.56
1.0
18
54.73
+9.80
+20.6
Uber Tch n
40.92
-.13
+37.6
EgyTrnsfr
1.22
9.7
15
12.54
-.14
-2.3
UtdCmBks
.72
2.4
17
29.50
+.86
-4.5
Equifax
1.56
1.0
28
16143
-45
+15.2
UPS B
4.04
3.8
18
106.48
-.28
-9.0
ExxonMbl
348
5.8
14
59.86
-48
-14.2
VerizonCm
2.46
4.2
15
58.09
-.13
-5.4
FordM
.60
7.5
6
8.03
+.03
-13.7
CBS B
.96
3.3
7
29.29
-6.38
-30.2
FuelCell rs
2.61
-.18
+4.0
VirgnGal
37.26
-.09
+222.6
GenElec
.04
.3
12.53
-.08
+12.3
Vodafone
.96
4.8
20.00
-.04
+3.5
GenuPrt
3.16
3.2
18
99.61
+.26
-6.2
WalMart
2.16
1.8
68
117.69
+.01
-1.0
GlbeLife
.69
.6
9
111.16
+.59
+5.8
WeisMk
1.24
3.3
9
37.83
+.61
-6.6
Groupon
1.70
-28.9
WellsFargo 2.04
4.3
10
47.34
+.25
-12.0
HP Inc
.70
3.1
7
22.64
+.21
+10.2
Yamana g
.05
1.1
4.43
+.01
+12.2
Haverty
.80
4.7
18
17.09
-.08
-15.2
YumBrnds
1.88
1.8
37
103.87
-1.32
+3.1
Hershey
3.09
1.9
35
160.11
+.39
+8.9
Zomedica
.32
+.08
-3.3
Name Ex Div Yld PE Last
YTD
Chg %Chg
Stock Footnotes: g = Dividends and earnings in Canadian dollars, h = Does not meet continued-listing standards. If = Late filing
with SEC. n = New in past 52 weeks, pf = Preferred, rs = Stock has undergone a reverse stock split of at least 50 percent within the
past year, rt = Right to buy security at a specified price, s = Stock has split by at least 20 percent within the last year, un = Units, vj
= In bankruptcy or receivership, wd = When distributed, wi = When issued, wt = Warrants. Fund Footnotes: m - Multiple fees are
charged, usually a marketing fee and either a sales or redemption fee. Source: The Associated Press. Sales figures are unofficial.
Stock Market Indexes
Dow Jones industrials
Close: 29,219.98
Change:-128.05 (-0.4%)
29,600
29,260'
28,920 10 DAYS
A S
O
N
D
J
F
52-Week
Net
YTD
12-mo
High
Low
Name
Last
Chg
%Chg
%Chg
%Chg
29,568.57
24,680.57
Dow Industrials
29,219.98
-128.05
-.44
+2.39
+13.03
11,359.49
9,676.06
Dow Transportation
11,032.96
+89.72
+.82
+1.21
+3.77
963.80
736.58
Dow Utilities
952.40
+2.39
+.25
+8.33
+26.83
14,183.26
12,238.40
NYSE Composite
14,061.48
-25.65
-.18
+1.07
+11.41
9,838.37
7,292.21
Nasdaq Composite
9,750.96
-66.22
-.67
+8.67
+30.72
1,522.26
1,199.74
S&P 100
1,511.27
-7.67
-.51
+4.79
+24.14
3,393.52
2,722.27
S&P 500
3,373.23
-12.92
-.38
+4.41
+21.56
2,106.30
1,802.58
S&P MidCap
2,106.12
+7.55
+.36
+2.09
+9.79
34,616.78
28,107.06
Wilshire 5000
34,434.66
-99.28
-.29
+4.71
+19.57
1,715.08
1,450.32
Russell 2000
1,696.07
+3.50
+.21
+1.65
+7.65
Mutual Funds
Total Assets
Total Return/Rank Pet Min Init
Name
Obj (SMIns)
NAV
4-wk 12-mo
5-year
Load
Invt
Vanguard 500ldxAdmrl
LB
319,196
312.09
+1.5 +23.5/A
+12.1/A
NL
3,000
Vanguard TtlSMIdxAdmrl
LB
251,491
83.56
+1.7+22.1/C
+11.6/B
NL
3,000
Fidelity 500ldxlnsPrm
LB
236,283
117.27
+1.5 +23.5/A
+12.1/A
NL
0
Vanguard TtlSMIdxIns
LB
154,922
83.57
+1.7+22.1/C
+11.6/A
NL
5,000,000
Vanguard TtlnSIdxinv
FB
153,621
17.61
-3.1 +9.6/D
+4.4/B
NL
0
Vanguard TtlSMIdxInv
LB
139,212
83.52
+1.7+22.0/C
+11.5/B
NL
3,000
Vanguard InsidxInsPlus
LB
125,310
303.84
+1.5 +23.5/A
+12.1/A
NL 100,000,000
Vanguard TtlnSIdxinsPlus
FB
120,120
117.85
-3.0 +9.7/C
+4.5/B
NL 100,000,000
Vanguard Insldxlns
LB
114,787
303.81
+1.5 +23.5/A
+12.1/A
NL
5,000,000
Vanguard TtBMIdxAdmrl
Cl
110,568
11.27
+1.7 +10.0/B
+3.4/B
NL
3,000
Fidelity Contrafund
LG
98,204
14.77
+3.3+26.1/C
+14.0/B
NL
0
Vanguard WlngtnAdmrl
MA
95,354
76.91
+0.7+17.6/A
+8.9/A
NL
50,000
Cl -Intermediate-Term Bond, FB -Foreign Large Blend, IH -World Allocation, LB -Large Blend, LG -Large Growth,
LV -Large Value, MA -Moderate Allocation, WS -World Stock, Total Return: Chng in NAV with dividends reinvest
ed. Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt:
Minimum $ needed to invest in fund. Source: Morningstar.
