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L Brands Loses Ground on Weak Earnings Forecast

January 05
03:05 2018

– By Omar Venerio

Wall Street was higher in premarket trading on Thursday, with the Dow Jones Industrial Average breaking 25,000 for the first time.

Shares of L Brands Inc. (LB), however, fell more than 12% after the company reported sales increased 3% in December to $ 2.516 billion, but expects to report fourth-quarter earnings per share of $ 2, which is lower than estimates of $ 2.05 and the previous guidance range of $ 1.95 to $ 2.10. Further, comparable sales, which increased 1%, were short of the consensus estimate. For January, it expects comparable sales to increase at a low single-digit rate.

  • Warning! GuruFocus has detected 6 Warning Sign with LB. Click here to check it out.
  • LB 15-Year Financial Data
  • The intrinsic value of LB
  • Peter Lynch Chart of LB

Gainers

  • Advanced Micro Devices Inc. (AMD)
  • CVS Health Corp. (CVS)
  • Micron Technology Inc. (MU)
  • Advance Auto Parts Inc. (AAP)
  • DXC Technology Co. (DXC)

Losers

  • Walgreens Boots Alliance Inc. (WBA)
  • Macy”s Inc. (NYSE:M)
  • Foot Locker Inc. (FL)
  • Kroger Co. (KR)
  • CBS Corp. (CBS)

Global markets

The main European stock markets traded higher. The U.K.”s FTSE 100 rose 0.32%, France”s CAC 40 climbed 1.55%, Germany”s Dax jumped 1.46% and Spain”s Ibex 35 gained 1.96%.

In Asia, Japan”s Nikkei 225 gained 3.26%, India”s BSE Sensex rose 0.52%, Hong Kong”s Hang Seng inched up 0.57% and China?s SSE Composite swelled 0.49%.

Disclosure: The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.

  • Warning! GuruFocus has detected 6 Warning Sign with LB. Click here to check it out.
  • LB 15-Year Financial Data
  • The intrinsic value of LB
  • Peter Lynch Chart of LB

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