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L Brands decreases 2016 full-year EPS guidance
19
May '16
Courtesy: L Brands
Courtesy: L Brands
Victoria's Secret's parent company, L Brands reduced its earnings per share (EPS) guidance for full-year 2016 to $3.60-$3.80 from $3.90-$4.10 attributed to a fall in EPS during first quarter of the year ended April 30, 2016.

Reported EPS for Q1 of the year ended April 30, 2016 was $0.52 as compared to $0.84 in the previous quarter, a fall of 38.09 per cent.

Net income reduced by 39.17 per cent to $152.3 million this quarter as compared to $250.4 million previously.

This was despite an increase of 4.05 per cent in net sales during the quarter to $2,613.81 million as compared to $2,511.93 million in the prior quarter.

L Brands issued a guidance of $0.50-$0.60 EPS for the second quarter of the year. (MCJ)

Fibre2Fashion News Desk - India

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