L Brands Up After 1Q Earnings
May 23 2019 - 10:42AM
Dow Jones News
By Michael Dabaie
L Brands Inc. (LB) shares were up 15% to $24.72 in early trading
Thursday.
The owner of Victoria's Secret, PINK and Bath & Body Works
on Wednesday reported sales of $2.63 billion for the first quarter.
This beat FactSet consensus for $2.56 billion.
Same-store sales were flat, versus FactSet consensus for a 1.4%
decline.
Per-share earnings were 14 cents, down from 17 cents a year
earlier.
L Brands said EPS exceeded its own guidance of about breakeven,
driven by results at Bath & Body Works. First quarter
comparable sales increased 13% at Bath & Body Works, but
declined 5% at the Victoria's Secret segment.
The company boosted the low end of its 2019 EPS guidance to
$2.30 to $2.60 from $2.20 to $2.60 previously. L Brands guided for
second-quarter EPS between 15 cents and 20 cents.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
May 23, 2019 10:27 ET (14:27 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
L Brands (NYSE:LB)
Historical Stock Chart
From Mar 2024 to Apr 2024
L Brands (NYSE:LB)
Historical Stock Chart
From Apr 2023 to Apr 2024
