L BRANDS news and archive

Bath & Body Works posts sales and earnings growth

Bath & Body Works, Inc., formerly known as L Brands, Inc. reported net sales of 1.681 billion dollars for the third quarter ended October 30, 2021, compared to 1.702 billion dollars for the third quarter ended October 31, 2020. Sales for the third quarter of 2021 increased 53 percent compared to sales of 1.099 billion dollars in 2019. Commenting...

Business

Bath & Body Works net sales improve 14 percent against Q22019

Bath & Body Works, Inc. formerly known as L Brands, Inc. reported net sales of 3.318 billion dollars for the second quarter compared to 2.319 billion dollars for the second quarter ended August 1, 2020. Sales for the quarter increased 14 percent compared to sales of 2.902 billion dollars in 2019. Bath & Body Works’ net sales were 1.704 billion...

Business

Victoria's Secret completes separation from Bath & Body Works, Inc.

Victoria’s Secret & Co. has completed its previously announced separation from Bath & Body Works, Inc. (formerly known as L Brands, Inc.) and is now an independent, publicly traded company. Victoria’s Secret includes Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty. Victoria’s Secret shares will begin trading today on the New York...

Business

UK arm of Victoria’s Secret goes into liquidation

The UK arm of US lingerie retailer Victoria’s Secret is reportedly being put into liquidation. A spokesperson for administrators Teneo said a judge has approved the liquidation for what’s left of the UK part of the business, which will allow dividends to be paid to creditors, according to PA Media. It is understood that because Victoria’s Secret...

Business

Les Wexner sells L Brand shares

Les Wexner, the man who made his billions off of Victoria’s Secret, is selling 745 million dollars worth of shares in parent company L Brands Inc. This brings his stock sales from L Brands to 1.2 billion dollars for the year so far. The stocks are being sold off through a secondary offering managed by JPMorgan Chase & Co. as reported by...

Business

L Brands expects to post Q2 earnings per share between 1.20 to 1.30 dollars

L Brands, Inc. has reported net sales of 2.351 billion dollars for the nine weeks ended July 3, 2021, compared to net sales of 1.369 billion dollars for the same period ended July 4, 2020. The company currently expects to report second quarter earnings per share between 1.20 dollars and 1.30 dollars and operating income of more than 400 million...

Business

Victoria's Secret to trade independently from August 2021

Board of directors of L Brands, Inc. has approved the previously announced separation of the Victoria’s Secret business into an independent, publicly traded company. The new company, named Victoria’s Secret & Co. (Victoria’s Secret), will include Victoria’s Secret Lingerie, Pink and Victoria’s Secret Beauty. In addition, the company said in a...

People

New board comprising of six women to run Victoria's Secret business

L Brands, Inc. has announced the composition of the board of directors for the standalone, publicly traded Victoria’s Secret business. The company said in a release that the new Victoria’s Secret board is expected to consist of seven directors, six of who are independent and six of who are women. “Today marks an exciting milestone in our plans...

People

L Brands appoints J.K. Symancyk to its board of directors

L Brands, Inc. has appointed J.K. Symancyk as an independent member of its board of directors, effective May 20, 2021. With this addition, the company said that the board now consists of 11 directors, ten of whom are independent and six of whom are women. “We are pleased to welcome J.K. to the board and look forward to benefitting from his deep...

BusinessFeatured

L Brands posts record profit, names CFOs for Bath & Body Works and Victoria's Secret

L Brands reported earnings per share of 97 cents for the first quarter ended May 1, 2021 compared to a loss per share of 1.07 dollars for the first quarter ended May 2, 2020. The company said, operating income was 572.1 million dollars compared to a loss of 317.7 million dollars last year and net income was 276.6 million dollars compared to a...

BusinessFeatured

L Brands to separate Victoria's Secret business from Bath & Body Works

L Brands, Inc. has announced that its board of directors has unanimously approved a plan to separate the company into two independent, public companies: Bath & Body Works and Victoria’s Secret, including Victoria’s Secret Lingerie, Pink and Victoria’s Secret Beauty. “In the last ten months, we have made significant progress in the turnaround of...

Business

L Brands raises Q1 earnings outlook

L Brands, Inc. is now forecasting a first quarter earnings per share range of 85 cents to 1 dollar versus its previous range of 55 cents to 65 cents, excluding any charges related to the early extinguishment of debt. The company said in a statement that raise in guidance is due to improved sales trends which it believes are primarily driven by...