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Wednesday, August 22, 2018

-=L Brands (LB) reported earnings on Wed 22 Aug 18 (a/h)

L Brands beats by $0.01, beats on revs; guides Q3 EPS below consensus; lowers FY19 EPS below consensus 
  • Reports Q2 (Jul) earnings of $0.36 per share, $0.01 better than the S&P Capital IQ Consensus of $0.35; revenues rose 8.3% year/year to $2.98 bln vs the $2.92 bln S&P Capital IQ Consensus. Guided EPS to high end of $0.30-0.35 guidance with comps +3% on August 10.
  • Co issues downside guidance for Q3, sees EPS of $0.00-0.05 vs. $0.15 S&P Capital IQ Consensus.
  • Co issues downside guidance for FY19, lowers EPS to $2.45-2.70 from $2.70-3.00 vs. $2.77 S&P Capital IQ Consensus. 
  • The company also announced that Denise Landman, CEO of Victoria's Secret PINK, has made the decision to retire at the end of this year after building the business to a nearly $3 billion brand. Amy Hauk, currently President for Merchandising and Product Development of Bath & Body Works, will replace Landman as CEO of Victoria's Secret PINK.

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