L Brands (LB) Issues Positive Outlook For Q1
L Brands Inc. (NYSE:LB) humble beginnings can be traced back to 1963 when college dropout Leslie Wexner borrowed $5,000 from his aunt to open a store in Kingsdale shopping center located in Ohio. The company launched and sold several brands over its decades-long journey. It currently operates three brands including Bath & Body Works, Victoria’s Secret and PINK.
The Columbus, Ohio-based fashion retailer recently announced mixed financial results for the fourth quarter. L Brands reported earnings of $860 million, or $3.03 per share for the three months ended January 30, as compared to $1.88 per share in the same period, a year earlier. On an adjusted basis, its profit increased to $3.46 per share, easily beating the consensus forecast of $2.91 per share.