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L Brands, Inc. (LB) SEC Filing 10-Q Quarterly report for the period ending Saturday, May 4, 2019

L Brands, Inc.

CIK: 701985 Ticker: LB


Exhibit 99.1
lbrandsa02aa16.jpg
L BRANDS REPORTS FIRST QUARTER 2019 RESULTS

- UPDATES EARNINGS GUIDANCE -
 
COLUMBUS, Ohio, May 22, 2019
- L Brands, Inc. (NYSE: LB) today reported first quarter earnings results.

The company reported net sales of $2.629 billion for the first quarter ended May 4, 2019, compared to sales of $2.626 billion for the quarter ended May 5, 2018. Comparable sales for the first quarter ended May 4, 2019, were flat compared to the quarter ended May 5, 2018. First quarter comparable sales declined 5 percent at the Victoria’s Secret segment and increased 13 percent at Bath & Body Works.

Earnings per share for the first quarter ended May 4, 2019, were $0.14 compared to $0.17 for the quarter ended May 5, 2018. First quarter operating income was $153.3 million compared to $154.8 million last year, and net income was $40.3 million compared to $47.5 million last year.

The first quarter earnings per share result of $0.14 exceeded the company’s guidance of about breakeven, driven by record results at Bath & Body Works.

2019 Outlook
The company updated its guidance for 2019 full-year earnings per share to between $2.30 to $2.60 from $2.20 to $2.60 previously, and issued guidance for second quarter earnings per share between $0.15 and $0.20.

Earnings Call and Additional Information
Additional first quarter financial information, including management commentary, is currently available at www.LB.com.  L Brands will conduct its first quarter earnings call at 9:00 a.m. Eastern on May 23.  To listen, call 1-866-363-4673 (international dial-in number: 1-973-200-3978); conference ID 3963169.  For an audio replay, call 1-855-859-2056 (international replay number: 1-404-537-3406); conference ID 3963169 or log onto www.LB.com

ABOUT L BRANDS:
L Brands, through Victoria’s Secret, PINK and Bath & Body Works, is an international company. The company operates 2,920 company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are also sold in more than 650 franchised locations worldwide. The company’s products are also available online at www.VictoriasSecret.com and www.BathandBodyWorks.com.










VICTORIA'S SECRET / PINK / BATH & BODY WORKS
Three Limited Parkway Columbus, OH 43230 www.LB.com

The following information was filed by L Brands, Inc. (LB) on Wednesday, May 22, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside L Brands, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Total Equity (Deficit) Statement
Commitments And Contingencies
Commitments And Contingencies (Details)
Comprehensive Income
Comprehensive Income (Components Of Accumulated Other Comprehensive Income (Loss)) (Details)
Comprehensive Income (Tables)
Derivative Instruments
Derivative Instruments (Foreign Exchange Contracts - Cash Flow Hedging Disclosure) (Details)
Derivative Instruments (Tables)
Derivative Instruments Fair Values Derivatives, Balance Sheet Location, By Derivative Contract Type (Details)
Description Of Business And Basis Of Presentation
Description Of Business And Basis Of Presentation (Policy)
Earnings Per Share And Shareholders' Equity
Earnings Per Share And Shareholders' Equity (Dividends) (Details)
Earnings Per Share And Shareholders' Equity (Schedule Of Company's Repurchase Program) (Details)
Earnings Per Share And Shareholders' Equity (Shares Utilized For The Calculation Of Basic And Diluted Earnings Per Share) (Details)
Earnings Per Share And Shareholders' Equity (Tables)
Equity Investments And Other
Equity Investments And Other (Details)
Fair Value Measurements
Fair Value Measurements (Carrying Value And Fair Value Of Long-Term Debt, Disclosure) (Detail)
Fair Value Measurements (Fair Value, Assets And Liabilities Measured On Recurring Basis) (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Narrative) (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases (Details)
Leases (Notes)
Leases (Tables)
Long-Term Debt
Long-Term Debt (Issuance And Repurchase Of Notes) (Narrative) (Details)
Long-Term Debt (Revolving Facility And Letters Of Credit) (Narrative) (Details)
Long-Term Debt (Schedule Of Long-Term Debt Instruments) (Details)
Long-Term Debt (Tables)
Long-Term Debt Exchange Of Notes (Details)
New Accounting Pronouncement (Notes)
New Accounting Pronouncement Leases (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Restructuring Activities (Details)
Restructuring Activities (Notes)
Retirement Benefits
Retirement Benefits (Narrative) (Details)
Revenue Recognition (Details)
Revenue Recognition (Notes)
Revenue Recognition (Tables)
Revenue Recognition Narrative (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Supplemental Guarantor Financial Information (Consolidated Balance Sheets) (Details)
Supplemental Guarantor Financial Information (Consolidated Statements Of Cash Flows) (Details)
Supplemental Guarantor Financial Information (Consolidated Statements Of Income) (Details)
Supplemental Guarantor Financial Information (Narrative) (Details)
Supplemental Guarantor Financial Information (Tables)
Supplemental Guarantor Financial Information Supplemental Guarantor Financial Information (Notes)
Ticker: LB
CIK: 701985
Form Type: 10-Q Quarterly Report
Accession Number: 0000701985-19-000028
Submitted to the SEC: Tue Jun 04 2019 1:14:56 PM EST
Accepted by the SEC: Tue Jun 04 2019
Period: Saturday, May 4, 2019
Industry: Retail Womens Clothing Stores

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