L Brands (NYSE:LB) news for Thursday includes a guidance cut for the fourth quarter of 2019, but LB stock is still up.
The negative L Brands news comes in an update on its holiday sales for 2019. In that update, the company says that it is now expecting earnings per share for the fourth quarter of 2019 to come in around $1.85.
The new EPS guidance for the fourth quarter of 2019 is a drop from the prior guidance of roughly $2.00. It’s also bad news by sitting well below Wall Street’s per-share earnings estimate of $1.97 for the period.
The L Brands news also notes that the company saw net sales of $3.91 billion during the nine weeks ended on Jan. 5. That’s a 3.93% drop from the company’s net sales of $4.07 billion reported during the same period of the year prior.
L Brands also mentions that net sales for the 48 weeks ended Jan. 4 were sitting at $12.11 billion. This is a 2.81% decrease compared to its net sales of $12.46 billion from the 48 weeks ended Jan. 5 of the previous year.
L Brands is set to release its earnings report for the fourth quarter of 2019 on Feb. 27. The company will also be holding a conference call at 9:00 a.m. Eastern Time to go over these results. Investors will have to wait until then to see how the company is doing in the current quarter.
LB stock was up 2.87% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.