L Brands falls after slashing profit forecast

CNBC.png

L Brands, the parent of Victoria's Secret and Bath & Body Works, on Wednesday lowered its profit outlook, which overshadowed quarterly earnings and revenue that topped analysts' expectations.

The company said it now expects full-year earnings per share between $2.45 and $2.70, down from its previous forecast for earnings per share between $2.70 and $3.

For the third quarter, L Brands said it expects earnings per share between 0 cents and 5 cents. Analysts polled by Thomson Reuters had estimated third-quarter earnings per share of 16 cents.

Read More