L Brands: Fiscal 3Q Earnings Snapshot
COLUMBUS, Ohio (AP) _ L Brands Inc. (LB) on Monday reported a fiscal third-quarter loss of $42.8 million, after reporting a profit in the same period a year earlier.
The Columbus, Ohio-based company said it had a loss of 16 cents per share. Earnings, adjusted for non-recurring costs, were 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The owner of Victoria’s Secret, Bath & Body Works and other chain stores posted revenue of $2.77 billion in the period, which met Street forecasts.
L Brands expects full-year earnings in the range of $2.60 to $2.80 per share.
L Brands shares have fallen 43 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 1 percent. In the final minutes of trading on Monday, shares hit $34.53, a decrease of 32 percent in the last 12 months.