L Brands Inc. (LB – Free Report) just released its third quarter fiscal 2017 earnings results, posting earnings of 30 cents per share and revenues of $2.6 billion. Currently, LB is a #3 (Hold) on the Zacks Rank, and is down 4.4% to $47.09 per share in trading shortly after its earnings report was released.
LB:
Matched earnings estimates. The retailer reported earnings of 30 cents per share, coming in line with the Zacks Consensus Estimate of 30 cents per share. Net income was $86 million for the quarter compared to $121.6 million last year.
Matched revenues estimates. The company saw revenue figures of $2.6 billion, just about meeting our consensus estimate of $2.61 billion and increasing 1% year-over-year.
Total comparable store sales decreased 3% for the Q3, while Victoria’s Secret comps were down 5%. Bath & Body Works saw comps rise 1%. L Brands said that the exit of its swim and apparel categories had a negative impact to both its total and VS’s comparable sales.
Looking ahead, the retailer expects Q4 earnings in the range of $1.95 to $2.10 per share. For full year 2017, it expects earnings to be between $3.05 to $3.20 per share.
Here’s a graph that looks at L Brands’ price, consensus, and EPS surprise:
L Brands, Inc. Price, Consensus and EPS Surprise
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L Brands operates as a retailer of women’s intimate and other apparel, beauty and personal care products and accessories primarily in the United States. Its brand includes Victoria’s Secret, Victoria’s Secret Pink, Bath & Body Works, La Senza and Henri Bendel. The company sells its product through franchise, license, wholesale partners, websites, catalogue, and other channels. L Brands Inc., formerly known as Limited Brands Inc., is headquartered in Columbus, Ohio
