L Brands comparable sales drop, lowers outlook

L Brands, Inc. reported net sales of 3.906 billion dollars for the nine weeks ended January 4, 2020, compared to 4.072 billion dollars for the same period ended January 5, 2019. L Brands said in a statement that comparable sales decreased 3 percent for the period under review.

The company reported net sales of 12.113 billion dollars for the 48 weeks compared to net sales of 12.457 billion dollars for the 48 weeks ended January 5, 2019. Comparable sales decreased 2 percent for the period.

The company expects to report fourth quarter earnings per share of about 1.85 dollars compared to its previous guidance of about 2 dollars.

Picture:L Brands media resources