L Brands (LB) reported adjusted earnings of $2.14 per share on revenue of $4.85 billion for the fourth quarter. Comparable sales for the fourth quarter ended Feb. 2, 2019, increased 3% year-over-year. Shares of L Brands are down about 9% during the extended trading hours on weak outlook.
Analysts had expected the company to earn $2.07 per share on revenue of $4.88 billion for the recently ended quarter. On a GAAP basis, Q4 earnings per share stood at $1.94 compared to $2.33 in the prior-year period.
The Columbus, Ohio-based retailer expects full-year 2019 earnings per share to be between $2.20 and $2.60, including approximately breakeven earnings per share result in the first quarter of 2019.
As expected, Bath & Body Works has been the top-performing segment like in the recent quarters with a sales growth of 9% and comp sales growth of 12%. However, Victoria’s Secret segment continued its poor performance with a sales decline of 5% and comp sales drop of 3% for the recently ended quarter.
The company had declared a regular quarterly dividend of $0.30 per share payable on March 8, 2019, to shareholders of record at the close of business on February 22, 2019.
Before the market opened today, retailer TJX Companies (TJX) reported strong comp store sales for its fourth quarter of 2019 and the stock gained 3.7% at the end of the regular trading session.
LB stock, which ended today’s trading session down 0.29% at $27.40, had appreciated 7% since the beginning of 2019, while it declined 43% in the past 12 months period.
Shares of FedEx Corporation (NYSE: FDX) were up 1% on Tuesday. The stock has dropped 44% year-to-date and 34% over the past 12 months. The company delivered mixed results for
After a soft start to the year, the IPO market has witnessed muted activity so far though a few big companies entered the stock market. On the heels of AIG
After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many