L Brands (NYSE:LB) announced its latest quarterly earnings results after hours today, posting mixed results that saw its profit top the mark, while sales were below expectations, playing a role in LB stock’s declining.
The Columbus, Ohio-based fashion retailer is largely known for its Victoria’s Secret brand, which was weaker during its fourth quarter of 2018 as the subsidiary’s same-store sales fell 3% year-over-year. Its Bath & Body Works brand had a strong quarter, amassing comps that were up by 12% compared to the year-ago quarter.
In the earnings front, L Brands brought in net income of $540 million, or $194 per share, about $124 million, or 39 cents per share below its year-ago net income. It also amassed an adjusted profit of $2.14 per share for the three-month period. Analysts were calling for the company to rake in adjusted earnings of $2.07 per share, according to data compiled by Refinitiv in a survey.
For its fiscal 2019, L Brands sees its earnings as sliding to somewhere in the range of $2.20 to $2.60 per share. This figure includes a first quarter that the fashion giant projects will be break-even in the profit front.
LB stock was down about 0.3% during regular trading on Wednesday following a mixed quarter that saw Victoria’s Secret underwhelm. The company added that shares fell an additional 6% after the bell on quarter that left something to be desired for L Brands, while its first quarter may fail to turn a profit.