On a brand basis, Victoria’s Secret narrowed its comp sale decline to 5% from a 12% decline last year. First-quarter sales declined marginally by 0.8% at the lingerie chain to $1.2 billion. At PINK, the company saw its second consecutive month of negative comp sales in April. The brand has been trying to succeed on its initiatives by promotions and discounts but all in vain, gaining little success. At Bath & Body Work, comp sales witnessed 5% growth.
Earlier this month, the company had lowered its full-year 2018 EPS outlook to $2.70 to $3.00 from $2.95 to $3.25. For the second quarter, the company expects earnings per share to come in between $0.30 and $0.35.
The shares of L Brands have declined 32% year-to-date, while since January it has plunged more than 43%. The stock tumbled further and dropped as much as 6% post the earnings release today on weak guidance.