We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
L Brands Posts Decent Comps in October, Updates Earnings View
Read MoreHide Full Article
Shares of L Brands, Inc. increased roughly 6% on Nov 8, primarily due to decent comparable sales (comps) performance and an upbeat view for third-quarter fiscal 2018. After rising 5% in September, comps increased 4% in October. Moreover, net sales rose 8% to $860.5 million during October.
Moving on, Victoria’s Secret witnessed flat comps during the month under review, owing to weakness in the Pink and Lingerie brand. Moreover, Victoria’s Secret merchandise margin rate fell significantly due to higher promotional activities to boost traffic. L Brands has been reeling under consumers’ changing preferences that continue to impact its Victoria’s Secret lingerie brand. Further, weakness in the Pink brand has added to its woes.
Meanwhile, comps improved 11% in case of Bath & Body Works, driven by strong demand. Merchandise margin rate for the same also increased on the back of less promotional activities and positive shrink result.
Apart from October comps, this Zacks Rank #3 (Hold) company updated its bottom line projection for the third quarter. It now expects adjusted earnings to be roughly 15 cents a share. This reflects a significant rise from the prior view of breakeven to 5 cents earnings per share on the back of strong performance at Bath & Body Works. However, including certain charges, the company expects to report loss of 17 cents a share. The current Zacks Consensus Estimate for the quarter under review is pegged at 6 cents.
For the 13-week period ended Nov 3, 2018, comps rose 4% year over year, while net sales increased 6% to $2775 million. Comps declined 2% at Victoria’s Secret, while the metric improved 13% at Bath & Body Works.
Notably, this specialty retailer of women's intimate and other apparel, beauty, and personal care products gained 15.6% in the past month, outperforming the industry’s rise of 3.7%.
Boot Barn Holdings (BOOT - Free Report) has a long-term earnings growth rate of 23% and a Zacks Rank #2.
Foot Locker (FL - Free Report) has a long-term earnings growth rate of 6.4% and a Zacks Rank #2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
L Brands Posts Decent Comps in October, Updates Earnings View
Shares of L Brands, Inc. increased roughly 6% on Nov 8, primarily due to decent comparable sales (comps) performance and an upbeat view for third-quarter fiscal 2018. After rising 5% in September, comps increased 4% in October. Moreover, net sales rose 8% to $860.5 million during October.
Moving on, Victoria’s Secret witnessed flat comps during the month under review, owing to weakness in the Pink and Lingerie brand. Moreover, Victoria’s Secret merchandise margin rate fell significantly due to higher promotional activities to boost traffic. L Brands has been reeling under consumers’ changing preferences that continue to impact its Victoria’s Secret lingerie brand. Further, weakness in the Pink brand has added to its woes.
Meanwhile, comps improved 11% in case of Bath & Body Works, driven by strong demand. Merchandise margin rate for the same also increased on the back of less promotional activities and positive shrink result.
Apart from October comps, this Zacks Rank #3 (Hold) company updated its bottom line projection for the third quarter. It now expects adjusted earnings to be roughly 15 cents a share. This reflects a significant rise from the prior view of breakeven to 5 cents earnings per share on the back of strong performance at Bath & Body Works. However, including certain charges, the company expects to report loss of 17 cents a share. The current Zacks Consensus Estimate for the quarter under review is pegged at 6 cents.
For the 13-week period ended Nov 3, 2018, comps rose 4% year over year, while net sales increased 6% to $2775 million. Comps declined 2% at Victoria’s Secret, while the metric improved 13% at Bath & Body Works.
Notably, this specialty retailer of women's intimate and other apparel, beauty, and personal care products gained 15.6% in the past month, outperforming the industry’s rise of 3.7%.
Check These Hot Picks
American Eagle Outfitters (AEO - Free Report) has a long-term earnings growth rate of 9.6% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boot Barn Holdings (BOOT - Free Report) has a long-term earnings growth rate of 23% and a Zacks Rank #2.
Foot Locker (FL - Free Report) has a long-term earnings growth rate of 6.4% and a Zacks Rank #2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>