Victoria’s Secret parent L Brands Inc. just released its first quarter fiscal 2017 financial results, posting earnings of 33 cents per share and revenues of $2.437 billion. Currently, LB is a #3 (Hold) on the Zacks Rank, and is up 5.89% to $51.25 per share in trading shortly after its earnings report was released.
L Brands:
Beat earnings estimates. The company reported earnings of 33 cents per share, surpassing the Zacks Consensus Estimate of 29 cents per share.
Matched revenue estimates. The company saw revenues of $2.437 billion, falling in-line with our consensus estimate of $2.44 billion but decreasing 7% year-over-year.
Q1 operating income was $209.2 million, while net income came in at $94.1 million.
Comparable sales for the first quarter decreased 9%. This was due to the exit of the swim and apparel categories, which had a negative impact of 6 percentage points and 9 percentage points, respectively, to total company and Victoria’s Secret comparable sales.
Looking ahead, L Brands increased is guidance for full-year 207, and now expects earnings per share in the range of $3.10 to $3.40, up from previous forecast of $3.05 to $3.35. For Q2, the company expects earnings in the range of 40 cents to 45 cents per share.
Here’s a graph that looks at L Brands’ price, consensus, and EPS surprise:
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.
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Victoria’s Secret parent L Brands Inc. just released its first quarter fiscal 2017 financial results, posting earnings of 33 cents per share and revenues of $2.437 billion. Currently, LB is a #3 (Hold) on the Zacks Rank, and is up 5.89% to $51.25 per share in trading shortly after its earnings report was released.
L Brands:
Beat earnings estimates. The company reported earnings of 33 cents per share, surpassing the Zacks Consensus Estimate of 29 cents per share.
Matched revenue estimates. The company saw revenues of $2.437 billion, falling in-line with our consensus estimate of $2.44 billion but decreasing 7% year-over-year.
Q1 operating income was $209.2 million, while net income came in at $94.1 million.
Comparable sales for the first quarter decreased 9%. This was due to the exit of the swim and apparel categories, which had a negative impact of 6 percentage points and 9 percentage points, respectively, to total company and Victoria’s Secret comparable sales.
Looking ahead, L Brands increased is guidance for full-year 207, and now expects earnings per share in the range of $3.10 to $3.40, up from previous forecast of $3.05 to $3.35. For Q2, the company expects earnings in the range of 40 cents to 45 cents per share.
Here’s a graph that looks at L Brands’ price, consensus, and EPS surprise:
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.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street.
They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>