“Shares of Victoria’s Secret parent L Brands jump on fourth-quarter forecast, in-line profits”
November 21, 2019
“L Brands shares, which closed near a 10-year low, rose nearly 4% during extended trading. The stock, which has a market value of $4.4 billion, hit a 52-week low of $15.80 earlier Wednesday…
The company said it expects 2019 fourth-quarter earnings per share to be about $2.00, which would result in full-year adjusted earnings per share of about $2.40. L Brands previously expected fiscal 2019 earnings to range between $2.30 and $2.60 per share.
With the new forecast within the projected range, L Brand shares rallied Wednesday, but shares are still down more than 30% this year, and pressure is growing on Les Wexner, its chairman and CEO. Wexner is the company’s largest shareholder, with a 17% stake…”
https://www.cnbc.com/2019/11/20/l-brands-lb-earnings-q3-2019.html