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L Brands Inc (LB) Shares Slide as Bottom Line Falls 29%

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L Brands Inc (NYSE: LB ) shares fell after the bell Wednesday as the company posted meek third-quarter results.

The company - which owns brands such as Victoria's Secret - unveiled earnings that fell to $85.99 million, or 30 cents per share on an adjusted basis. A year ago, L Brands garnered a profit of $121.64 million, or 42 cents per share.

The figure was in line with analysts' consensus estimate of 30 cents per share, according to Thomson Reuters . Revenue managed to grow 1.2% to $2.61 billion from last year's $2.58 billion.

Comparable sales also took a hit at L Brands, falling 1% year-over-year. Both L Brands and Victoria's Secret took a hit as the company stopped selling in the swim and apparel categories, costing it 2 percentage points to both the parent company and the lingerie brands.

Total comparable sales were hit even harder, decreasing 3% for the third quarter, and this figure was steeper for Victoria's Secret, down 5%. For Bath & Body works, comparable sales gained 1%.

For its fourth quarter, L Brands predicts it will rake in earnings in the range of $1.95 to $2.10 per share, hiking up the full-year figures to $3.05 to $3.20 per share.

The company also sells personal care products and accessories, most of which are in the U.S. L Brand's segments include Victoria's Secret, Victoria's Secret Pink, Bath & Body Works, La Senza and Henri Bendel.

LB shares fell 3.8% after the bell.

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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.

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