Ahead of the lingerie brand’s spin-off as a separate business, L Brands held an investor day on Monday to outline plans for the future of Victoria’s Secret, including new store concepts and digital development.
L Brands Inc. said on Tuesday the firm is increasing its second quarter earnings guidance, as strong customer response to merchandise assortments and improved inventory management saw promotional activity reduced.
The Victoria’s Secret parent company announced net income of $276.6 million, or $0.97 per share, for the first quarter on Wednesday. Adjusted earnings per share totaled $1.25, beating analysts’ estimates of $1.25.
The company revealed that its board has unanimously approved its planned spin-off of the Victoria’s Secret brand on Tuesday and provided further details about the transaction, as well as preliminary Q1 financial results.
Long seen as a bellwether for the health of UK clothing retail, Next will post its annual trading figures on 1 April. And although they're expected to reveal slashed profits last year, the outlook's far from gloomy.
L Brands, the parent company of Victoria’s Secret and Bath & Body Works, announced on Friday that it was increasing its first quarter earnings guidance for a second time this month, due to improved sales trends.