L Brands: Q1 loss greater than expected

(CercleFinance.com) - On Thursday evening the fashion house for women, L Brands, posted an adjusted net loss per share of 99 cents in its first quarter, almost double what the consensus feared.


Its adjusted operating loss was reached 221 million dollars, compared to a profit of153 million dollars a year ago, for revenues that are down 37% at 1.65 billion dollars, with the closure of almost all its stores from 17 March, due to the pandemic.

Given the high level of uncertainty about the current environment, the group has decided not to provide any financial targets, although confirms its plan to split Bath & Body Works and Victoria's Secret into two separately listed companies.


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