FBR Capital Cuts Price Target on L Brands (LB) to $69 Following 3Q
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L Brands Reports Third Quarter 2016 Earnings
November 16, 2016 4:15 PM ESTCOLUMBUS, Ohio, Nov. 16, 2016 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) today reported 2016 third quarter results.
Third Quarter ResultsEarnings per share for the third quarter ended Oct. 29, 2016, decreased 24 percent to $0.42 compared to $0.55 for the quarter ended Oct. 31, 2015. Third quarter operating income decreased 16 percent to $283.6 million compared to $338.8 million last year, and net income was $121.6 million compared to $164.0 million last year.Â
The company reported net sales of $2.581 billion for the third quarter ended Oct.... More
