L Brands (LB) Reports Holiday 2019 Sales, Lowers Q4 EPS Guidance

L Brands, Inc. (NYSE: LB) reported net sales of $3.906 billion for the nine weeks ended Jan. 4, 2020, compared to net sales of $4.072 billion for the nine weeks ended Jan. 5, 2019. Comparable sales decreased 3 percent for the nine weeks ended Jan. 4, 2020, compared to the nine weeks ended Jan. 5, 2019.

The company reported net sales of $12.113 billion for the 48 weeks ended Jan. 4, 2020, compared to net sales of $12.457 billion for the 48 weeks ended Jan. 5, 2019. Comparable sales decreased 2 percent for the 48 weeks ended Jan. 4, 2020, compared to the 48 weeks ended Jan. 5, 2019.

The company expects to report fourth quarter earnings per share of about $1.85 compared to its previous guidance of about $2.00.

(*Consensus sees Q4 EPS of $1.97)

To hear further commentary provided on L Brands’ prerecorded Holiday sales message, call 1-855-859-2056; conference ID 7188906 or log onto www.LB.com for an audio replay.

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