Source: Fortune
L Brands (LB) reported revenue of $2.68 billion, Non-GAAP EPS of $0.02 and GAAP EPS of -$0.91. The company missed revenue, yet the stock rose about 5% post-earnings. I had the following takeaways on the quarter.
Victoria's Secret Continues To Slide
Fashion is fickle. When things turn negative for a fashion brand it can take several quarters to turn things around. Revenue at Victoria's Secret has been declining for several quarters. Customers' tastes have seemingly shifted away from the racy lingerie and women's wear Victoria's Secret is known for. Its sales