L Brands Says Holiday Season Sales Fell
11 January 2019 - 12:01AM
Dow Jones News
By Micah Maidenberg
L Brands Inc. (LB) reported a drop in sales during the crucial
holiday shopping season.
The Columbus, Ohio-based owner of the Victoria's Secret
undergarment brand booked $2.48 billion in sales over a five-week
period that ended Jan. 5.
That is down 1.6% versus the comparable period covering the 2017
holiday shopping season, when the company reported $2.52 billion in
sales. Comparable-store sales were flat, L Brands said.
The company also said Thursday it expects adjusted earnings
toward the high end of its guidance $1.90 a share to $2.10 a share
for the fourth quarter. That doesn't include a charge of $80
million, or 15 cents a share, related to the sale of its La Senza
brand.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
January 10, 2019 07:46 ET (12:46 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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