Retail News

L Brands reports earnings ahead of taking Victoria’s Secret private

CNBC 02/26/2020

Same-store sales at L Brands fell two percent during the fourth quarter as a 10 percent gain in comps at Bath & Body Works was not enough to offset a 10 percent decline at Victoria’s Secret. L Brands’ adjusted earnings per share came in at $1.88, slightly ahead of the $1.86 consensus among analysts. The retailer recently announced that it had sold a 55 percent stake in Victoria’s secret to Sycamore Partners.

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