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L Brands (NYSE: LB ) announced its latest quarterly earnings results after hours today, posting mixed results that saw its profit top the mark, while sales were below expectations, playing a role in LB stock's declining.
In the earnings front, L Brands brought in net income of $540 million, or $194 per share, about $124 million, or 39 cents per share below its year-ago net income. It also amassed an adjusted profit of $2.14 per share for the three-month period. Analysts were calling for the company to rake in adjusted earnings of $2.07 per share, according to data compiled by Refinitiv in a survey.
For its fiscal 2019, L Brands sees its earnings as sliding to somewhere in the range of $2.20 to $2.60 per share. This figure includes a first quarter that the fashion giant projects will be break-even in the profit front.
LB stock was down about 0.3% during regular trading on Wednesday following a mixed quarter that saw Victoria's Secret underwhelm. The company added that shares fell an additional 6% after the bell on quarter that left something to be desired for L Brands, while its first quarter may fail to turn a profit.
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The post L Brands Earnings: LB Stock Slumps as Victoria's Secret Comps Dip appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
