After clear indications last month that Victoria's Secret owner Limited Brands, Inc., was experiencing financial difficulty on the retail and investment arenas, a spokesman for a pro-family watchdog group monitoring them says a shuffle in the top 10 mutual funds invested in the company may be another sign of ongoing problems.
For the past few years, Bill Johnson and his American Decency Association (ADA) have been urging a financial boycott of Victoria's Secret stores and divestments from mutual funds supporting their parent company. Johnson says ADA's tracking shows significant juggle of the top 10 leading mutual fund investments of the Limited for the second time this month – including a complete change out to new funds between April 21 and 23 – after little or no change in the past. "We're seeing that out of ten mutual funds of the Limited, nine were totally different from just two days ago. That seems to continue to be the picture that's presented to us," Johnson points out. According to Johnson, the numbers reveal that the Limited still seems to be struggling. "There's been a great deal of volatility, and that's usually an indication of some faltering of some kind or another. So that really is why we're saying that we believe the Limited is still struggling as they were a couple of months ago," Johnson says. Limited Brands reported a 12 percent drop in profits for the fourth quarter of 2007 in early March and faced a threatened downgrade of its credit status with Standard & Poor's Index. Johnson says it is important to continue the strategy for values-based consumers to keep putting the heat on Victoria's Secret retail outlets and their profits until they follow through on a large scale with promises to tone down sexually charged displays and advertising across the country. "And certainly that includes getting away from investing in the Limited," Johnson contends.
If you believe OneNewsNow.com is an important source for Christian news, please consider a small tax-deductible gift for this service.
