L Brands (LB) Guides Q3 EPS to Low-End of Outlook; Comps Expected up 1%
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L Brands, Inc. (NYSE: LB) reported estimated October comparable sales and updated guidance for third quarter earnings. The company is making this updated information available in advance of its Investor Update Meeting on Nov. 1.
October comparable sales are expected to be up 1 percent, including an expected -2 percent comp at Victoria’s Secret, and 6 percent at Bath & Body Works.
The company now expects third quarter earnings per share to be about $0.40, versus its previous guidance of $0.40 to $0.45 and last year’s result of $0.55. The company will provide final third quarter results and fourth quarter earnings guidance when it reports third quarter earnings on Nov. 16.
*** The Street sees Q3 EPS of $0.46.
As announced last week, the Investor Update Meeting will be video webcast live from 12:30 p.m. to 3:30 p.m. ET Nov. 1 on www.LB.com, and accessible via phone (listen only) by dialing 1-877-617-5532 (international callers dial 1-234-386-2885). Please reference the “L Brands Annual Investor Update Meeting” or conference ID 68045265 to access the call. An archive of the webcast will be available on www.LB.com as soon as possible following the live event.
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