L Brands reported earnings and sales for the holiday quarter that topped analysts' expectations, as it prepares to take its Victoria's Secret lingerie business private.
L Brands had earlier this year cut its earnings outlook for the fourth quarter after reporting weak 2019 holiday sales.Pedestrians walk past a Victoria's Secret store, a subsidiary of L Brands, in New York.reported earnings and sales for the holiday quarter that topped analysts' expectations, as it prepares to take its Victoria's Secret lingerie business private.
Here's how the company did for the quarter ended Feb. 1, compared with what analysts were expecting, based on Refinitiv data:Revenue: $4.71 billion vs. $4.69 billion expected Sales fell to $4.71 billion from $4.85 billion a year ago. Analysts were expecting the company to report sales of $4.69 billion.earlier this month that private equity firm Sycamore Partners will acquire a 55% stake in Victoria's Secret from its owner for $525 million. Upon the close of the deal, L Brands' founder, 82-year-old Les Wexner, is also set to step down as its chairman and CEO.
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