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
Bath & Body Works Inc. Stock
€26.82
0.690%
With 22 Buy predictions and 1 Sell predictions Bath & Body Works Inc. is one of the favorites of our community.
With a target price of 46 € there is a hugely positive potential of 71.51% for Bath & Body Works Inc. compared to the current price of 26.82 €.
