{"id":107921,"date":"2021-02-24T22:32:20","date_gmt":"2021-02-24T22:32:20","guid":{"rendered":"https:\/\/fin2me.com\/?p=107921"},"modified":"2021-02-24T22:32:20","modified_gmt":"2021-02-24T22:32:20","slug":"l-brands-shares-rise-on-victorias-secret-owners-earnings-beat-first-quarter-outlook","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/l-brands-shares-rise-on-victorias-secret-owners-earnings-beat-first-quarter-outlook\/","title":{"rendered":"L Brands shares rise on Victoria&#x27;s Secret owner&#x27;s earnings beat, first-quarter outlook"},"content":{"rendered":"<p>Victoria&#x27;s Secret parent L Brands on Wednesday reported fourth-quarter earnings that topped analysts&#x27; estimates, but sales fell short due to weakness at its lingerie brand.<\/p>\n<p>Although the retailer isn&#x27;t offering an outlook for the full year, due to the uncertainty around the pandemic and the pending separation of its Victoria&#x27;s Secret brand from Bath &amp; Body Works, it provided an upbeat outlook for the first quarter, saying it&#x27;s building on the momentum it saw over the holidays.<\/p>\n<p>L Brands shares rose more than 4% in after-hours trading.<\/p>\n<p>Here&#x27;s how the company did during its fourth quarter ended Jan. 30 compared with what analysts were expecting, based on Refinitiv data:<\/p>\n<ul>\n<li>Earnings per share: $3.03 vs. $2.91 expected<\/li>\n<li>Revenue: $4.82 billion vs. $4.87 billion expected<\/li>\n<\/ul>\n<p>L Brands posted net income of $860.3 million, or $3.03 per share, compared with a loss of $192.3 million, or 70 cents a share, a year earlier. The results toppe the $2.91 per share forecast by analysts.<\/p>\n<p>Net sales grew to $4.82 billion from $4.71 billion a year ago. That was short of the $4.87 billion expected by analysts.<\/p>\n<p>Same-store sales rose 10%, better than the 6.7% forecast by a Refinitiv survey.<\/p>\n<p>L Brands is set to hold a conference call with analysts Thursday morning to discuss the latest results.<\/p>\n<p>L Brands shares are up 119% over the past 12 months, as of Wednesday&#x27;s market close. It has a market cap of $14.36 billion.<\/p>\n<p>Find the full press release here.<\/p>\n<p><em>This story is developing. Please check back for updates.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/02\/24\/l-brands-lb-reports-q4-2020-earnings.html\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Victoria&#x27;s Secret parent L Brands on Wednesday reported fourth-quarter earnings that topped analysts&#x27; estimates, but sales fell short due to weakness at its lingerie brand. [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":107920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>L Brands shares rise on Victoria&#x27;s Secret owner&#x27;s earnings beat, first-quarter outlook - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/l-brands-shares-rise-on-victorias-secret-owners-earnings-beat-first-quarter-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"L Brands shares rise on Victoria&#x27;s Secret owner&#x27;s earnings beat, first-quarter outlook - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Victoria&#x27;s Secret parent L Brands on Wednesday reported fourth-quarter earnings that topped analysts&#x27; estimates, but sales fell short due to weakness at its lingerie brand. 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