Earnings

L Brands shares fell 4 percent postmarket Monday after the company said it would slash its annual dividend in half to $1.20.

The company, known for its brands Victoria’s Secret and Bath & Body Works, beat profit expectations. L Brands reported adjusted earnings of 16 cents a share versus a Refinitiv estimate of 15 cents. It also reported $2.77 billion for the third quarter, in line with the preliminary sales figures it released on Nov. 8.

It also raised its full-year earnings outlook, saying it now expects earnings between $2.60 a share to $2.80 a share. The company had previously forecast full-year earnings between $2.45 a share and $2.70 a share.

L Brands said stores open more than a year saw sales rise 4 percent year over year, also in line with the preliminary results it released earlier this month.

Products You May Like

Articles You May Like

Goldman Sachs is offering ‘peanuts’ to compensate for 1MDB, says Malaysian prime minister
Investor Karen Firestone: What the pros do when they are underperforming (other than panic)
Fed holds rates steady. Here’s what that means for your wallet
Sen. Elizabeth Warren proposes law to help same-sex couples collect tax refunds owed to them
Lawmakers’ probe of UK stockpicker and broking giant could shake up fund industry, analysts say

Leave a Reply

Your email address will not be published. Required fields are marked *