Why L Brands Popped 12% Higher Despite Mixed Q3 Results
Shares of L Brands (NYSE: LB), an apparel and personal care retailer best known for its Victoria's Secret and Bath & Body Works brands, jumped nearly 13% on Thursday morning despite the company's disappointing sales.
Sales during the third quarter dropped 4% from the prior year, to $2.68 billion, lower than analysts' estimates calling for $2.69 billion. L Brands also lost a staggering $252 million, or $0.91 per share, but when adjusted for large one-time items, it earned $0.02 per share, which was in line with analysts' expectations.
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Source Fool.com
