L Brands Inc. (LB - Free Report) just released its third quarter fiscal 2016 financial results after the bell, posting earnings of 42 cents per share and revenues of $2.58 billion. LB is a #3 (Hold) on the Zacks Rank, and is down almost 2% to $66.60 per share in after-hours trading.
Beat earnings estimates. The company reported earnings of 42 cents per share, surpassing the Zacks Consensus Estimate of 40 cents per share but declining 24% year-over-year
Matched revenue estimates. The company saw revenue figures of $2.51 billion, matching our consensus estimate of $2.583 billion and increasing 4% year-over-year.
Company-wide, L Brands reported a comparable sales (including stores and direct sales) increase of 2%. Victoria’s Secret saw a 1% decline in comps, while Bath & Body Works posted a 7% increase in comps.
Third quarter operating income decreased 16% to $283.6 million compared to $338.8 million last year, and net income was $121.6 million compared to $164.0 million last year.
Looking ahead to its holiday quarter, the company expects EPS to be in the range of $1.85 to $2.00, down from $2.15 per share a year ago.
Here’s a graph that looks at L Brands’ price, consensus, and EPS surprise:
L Brands, Inc. 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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