L Brands Inc (LB) reported quarterly earnings results on Wednesday, Aug-17-2016. The company said it had a profit of $0.70 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $0.60. The company posted revenue of $2889.70 million in the period, compared to analysts expectations of $2842.08 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.
Many Wall Street Analysts have commented on L Brands Inc. L Brands Inc was Downgraded by BofA/Merrill to ” Underperform” on Jun 28, 2016. Shares were Reiterated by Wolfe Research on May 20, 2016 to “Peer Perform” and Lowered the Price Target to $ 62 from a previous price target of $70 .Shares were Reiterated by FBR Capital on May 20, 2016 to “Mkt Perform” and Lowered the Price Target to $ 63 from a previous price target of $93 .
L Brands Inc opened for trading at $73.98 and hit $74.54 on the upside on Monday, eventually ending the session at $74.34, with a gain of 0.92% or 0.68 points. The heightened volatility saw the trading volume jump to 15,70,440 shares. Company has a market cap of $21,373 M.
In a different news, on Jul 12, 2016, Nicholas Coe (CEO-Bath and Body Works) sold 4,951 shares at $67.53 per share price. According to the SEC, on Jun 24, 2016, Allan R Tessler (director) purchased 3,500 shares at $67.92 per share price. On Dec 30, 2015, Raymond Zimmerman (director) sold 1,500 shares at $96.26 per share price, according to the Form-4 filing with the securities and exchange commission.
L Brands Inc. operates specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel beauty and personal care products and accessories. It operates in three segments: Victoria’s Secret which includes Victoria’s Secret PINK which is the specialty retailer of women’s intimate and other apparel with fashion-inspired collections prestige fragrances celebrated supermodels and world-famous runway shows; Bath & Body Works which is the specialty retailer of home fragrance and personal care products including shower gels lotions soaps and sanitizers and Victoria’s Secret and Bath & Body Works International which includes the Victoria’s Secret and Bath & Body Works company-owned and partner-operated stores outside of the United States and Canada. It sells its merchandise through company-owned specialty retail stores in the United States Canada and the United Kingdom which are primarily mall-based and through its Websites and other channels.