LB LandBridge Company LLC

By Patrick Thomas 

L Brands Inc.'s revenue fell in its latest quarter as sales at the retailer's embattled flagship Victoria's Secret chain declined further.

The Columbus, Ohio-based retailer reported net sales of $2.9 billion for its second quarter, compared with $2.98 billion a year earlier. Analysts polled by FactSet predicted $2.95 billion in revenue.

Comparable sales, which include digital and same-store sales, decreased 1% from the same period a year earlier.

Victoria's Secret sales fell 7% to $1.61 billion from a year earlier, below the $1.67 billion in sales analysts were expecting.

Overall, L Brands, which also owns Bath & Body Works, posted a profit of $37.6 million, or 14 cents a share, compared with $99 million, or 36 cents a share, a year ago.

The company reported adjusted earnings of 24 cents a share. Analysts polled by FactSet were expecting earnings of 20 cents a share, or 20 cents a share on an adjusted basis.

Shares of L Brands ticked up about 1% during aftermarket trading. The company reaffirmed its adjusted earnings outlook for the year of between $2.30 and $2.60 a share.

Write to Patrick Thomas at Patrick.Thomas@wsj.com

(END) Dow Jones Newswires

August 21, 2019 17:24 ET (21:24 GMT)

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