Why L Brands, Inc. Stock Plunged 21.9% in August

Shares of Victoria's Secret and Bath & Body Works parent L Brands (NYSE: LB) declined 21.9% in the month of August, according to data provided by S&P Global Market Intelligence, after the company announced disappointing second-quarter 2017 sales results and light guidance.

More specifically for its quarter ended July 29, 2017, L Brands' revenue declined 4.7% year over year to $2.755 billion. On the bottom line, that translated to a 31% decline in adjusted net income to $138.9 million, or $0.48 per share. Interestingly, these results compared favorably to Wall Street's expectations, as consensus estimates called for earnings of only $0.44 per share on roughly the same revenue.

Image source: L Brands.

Source: Fool.com