Categories AlphaGraphs, Earnings, Retail

Infographic: Key highlights from L Brands (LB) Q1 2020 earnings

L Brands, Inc. (NYSE: LB) reported its financial results for the quarter ended May 2, 2020, on Wednesday after the market closes. Like other retailers, the company is not providing guidance for the second quarter or full-year 2020 given the high level of uncertainty in the current environment.

L Brands (LB) Q1 2020 earnings review

L Brands slipped to a loss in the first quarter of 2020 from a profit last year due to the closure of all of its stores due to the COVID-19 pandemic. The results included non-cash impairment charges related to certain Victoria’s Secret store assets and a tax benefit related to the favorable resolution of certain tax matters.

The company has temporarily closed down all of its Bath & Body Works, Victoria’s Secret and Pink stores in the United States and Canada, starting from March 17. The lockdown has lessened the profitability for the company, which operates 1,091 Victoria’s Secret stores and 1,739 Bath & Body Works stores in the US and Canada.

Take a look at our Retail articles here

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top