Friday, January 5, 2018

L Brands’ December comparable-store sales, profit margins disappoint Wall Street

The Columbus Dispatch

L Brands shares plummeted 15 percent in Thursday morning trading on December sales news.
Comparable-store sales, a key indicator of a retailer’s health, were up 1 percent, slightly below Wall Street predictions of a 1.4 percent rise. But profit margins were unexpectedly low.

“The merchandise margin rate was below our expectations,” said Amie Preston, chief investor relations officer. The drop was “driven in part by a stronger-than-anticipated response to Victoria’s Secret Holiday Reward Card.” ...more

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