{"id":200733,"date":"2021-03-12T19:45:41","date_gmt":"2021-03-12T16:45:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/l-brands-owner-of-victorias-secret-raises-profit-outlook\/"},"modified":"2021-03-12T19:45:41","modified_gmt":"2021-03-12T16:45:41","slug":"l-brands-owner-of-victorias-secret-raises-profit-outlook","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/l-brands-owner-of-victorias-secret-raises-profit-outlook\/","title":{"rendered":"#L Brands, owner of Victoria’s Secret, raises profit outlook"},"content":{"rendered":"

“#L Brands, owner of Victoria’s Secret, raises profit outlook<\/strong>”<\/p>\n

\n

Things are looking up in 2021 for Victoria\u2019s Secret and Bath & Body Works.<\/p>\n

Shares of L Brands \u2014 the retail empire founded by billionaire Les Wexner that owns the two chains \u2014 rose more than 6 percent on Friday after the company raised its financial outlook.<\/p>\n

The Columbus, Ohio-based company is hiking its earnings guidance \u201cdue to strong sales and margin results quarter-to-date,\u201d chief executive Andrew Meslow said in a statement on Friday, adding that the increase \u201calso contributed to an improvement in our expectations for the remainder of the quarter.\u201d<\/p>\n

L Brands now expects first-quarter earnings in a range of 55 cents to 65 cents a share, up from from 35 cents to 45 cents a share. The company also said it plans to pay down $1 billion in debt through 2025, reinstate its dividend and buy back shares.<\/p>\n

Bath & Body Works has grown exponentially during the pandemic as consumers scooped up soaps and hand sanitizer and fragrances for their home, while Victoria\u2019s Secret has doubled down on a turnaround plan that is starting to reap benefits.<\/p>\n

\u00a0\u201cL Brands took a series<\/a> of actions throughout 2020 to improve financial and operational performance, which led to record third and fourth quarter results,\u201d board chair Sarah Nash said in a statement.<\/p>\n

The lingerie giant, whose deal to be sold last year got scrapp<\/a>ed with the onset of the pandemic, is being shopped right now to private equity firms as L Brands is planning to either spin it off as a separate company or sell it by August, the company announced last year.<\/p>\n

\n
\"Shares
Shares of L Brands, the retail empire founded by billionaire Les Wexner that owns the two chains, rose more than 6 percent.<\/figcaption>
TNS via ZUMA Wire<\/span><\/figcaption><\/figure>\n<\/div>\n

While the previous sale to private-equity Sycamore Partners had valued Victoria\u2019s Secret at $1 billion, industry experts told The Post last month that the company\u2019s improving business could fetch more than four times that figure.<\/p>\n

In the fourth quarter, comparable sales increased 10 percent \u2014 up 22 percent at Bath & Body Works and down 3 percent at Victoria\u2019s Secret \u2014 while online sales surged 74 percent and 33 percent at BBW and Victoria\u2019s Secret, respectively, according to the company.\n <\/p><\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#L Brands, owner of Victoria’s Secret, raises profit outlook” Things are looking up in 2021 for Victoria\u2019s Secret and Bath & Body Works. Shares of L Brands \u2014 the retail empire founded by billionaire Les Wexner that owns the two chains \u2014 rose more than 6 percent on Friday after the company raised its financial…<\/p>\n","protected":false},"author":1,"featured_media":200734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/03\/l-brands-on-rise2.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[97382,70237,72661,70818],"class_list":["post-200733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-12-21","tag-corporate-earnings","tag-revenue","tag-victorias-secret"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/200733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=200733"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/200733\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/200734"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=200733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=200733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=200733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}