L Brands (NYSE: LB), the parent company of Victoria's Secret and Bath & Body Works, lost about 40% of its value over the past 12 months amid concerns about its lingerie brand's slowing growth. A dividend cut last December, a brief activist battle, controversial comments about transgender models, and ugly reports about Jeffrey Epstein's connections to Victoria's Secret exacerbated that pain.
L Brands' second-quarter report didn't allay those fears. Its revenue fell 3% annually to $2.9 billion, missing estimates by $50 million. Its adjusted net income plunged 32% to $67.3 million, or $0.24 per share, which still beat estimates by four cents.
Image source: L Brands.