L Brands LB released its Q2 results after market close on Wednesday. Earnings per share came in above Wall Street consensus expectations, sending shares up 0.59 percent.
L Brands reported EPS of $0.7 and revenues of $2.89 billion. Analyst consensus had an EPS estimate of $0.59 and revenues of $2.86 billion.
L Brands saw Q3 EPS at $0.40-$0.45 vs. estimates of $0.47 and FY16 EPS of $3.70-$3.85 vs. estimates of $3.74. Prior management expectations for FY15 EPS was $3.60-$3.80.
Market News and Data brought to you by Benzinga APIsWas Victoria Secret Correct In It's Management Changes?
Comparable sales growth including stores and direct for Victoria's Secret was 2 percent vs. 1 percent year over year. L Brands overall had a 3 percent same store sale growth during 2Q vs. 3% last year, same quarter. Analyst's such as MKM's Roxanne Meyer remained on the sidelines during before the earnings release as recent management changes including the departure of Victoria Secret's CEO and promotional changes created uncertainty on the company's future. Victoria's Secret increased growth, however, may push the analyst to have a more positive outlook on the company's management choices in the future. At the time of writing, L Brands traded at $74.5 in Wednesday's after-hours session.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in