Last €81.70 EUR
Change Today -0.05 / -0.06%
Volume 50.0
As of 1:04 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

l brands inc (LTD) Snapshot

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02/27/15 - €82.30
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l brands inc (LTD) Details

L Brands, Inc. operates as a specialty retailer of women’s intimate and other apparel, beauty and personal care products, and accessories. The company operates in two segments, Victoria’s Secret and Bath & Body Works. Its products include loungewear, bras, panties, sleepwear, swimwear, athletic attire, fragrances, shower gels and lotions, aromatherapy, soaps and sanitizers, home fragrances, and personal care accessories. The company offers its products under the Victoria’s Secret, Pink, Bath & Body Works, La Senza, Henri Bendel, C.O. Bigelow, White Barn Candle Company, and other brand names. L Brands, Inc. sells its merchandise through company-owned specialty retail stores in the United States, Canada, and the United Kingdom, which are primarily mall-based; through its Websites and catalogues; and through franchises, licenses, and wholesale partners. As of February 1, 2014, the company operated 2,648 retail stores in the United States; 270 retail stores in Canada; and 5 retail stores in the United Kingdom. It also operated 331 La Senza stores in 30 countries; 55 Bath & Body Works stores in 14 countries; 4 Victoria's Secret stores in 2 Middle Eastern countries; and 198 Victoria’s Secret Beauty and Accessories stores, and various small-format locations in approximately 60 countries. The company was formerly known as Limited Brands, Inc. and changed its name to L Brands, Inc. in March 2013. L Brands, Inc. was founded in 1963 and is headquartered in Columbus, Ohio.

Founded in 1963

l brands inc (LTD) Top Compensated Officers

Founder, Executive Chairman, Chief Executive ...
Total Annual Compensation: $1.9M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $819.4K
Chief Operating Officer, Chief Executive Offi...
Total Annual Compensation: $973.0K
Chief Executive Officer of Victoria's Secret ...
Total Annual Compensation: $1.4M
Chief Executive Officer of Bath & Body Works ...
Total Annual Compensation: $905.8K
Compensation as of Fiscal Year 2013.

l brands inc (LTD) Key Developments

L Brands, Inc. Announces Earnings Results for the Fourth Quarter and Full Year of 2014; Provides Earnings Guidance for the First Quarter and Full Year of 2015

L Brands, Inc. announced earnings results for the fourth quarter and full year of 2014. For the quarter, earnings per share increased 15% to $1.89 against $1.65 last year. Net sales for the quarter increased 7% to $4.069 billion and comps increased 6%. Operating income dollars increased 11% to $957 million. For the year, earnings per share increased 15% to $3.50 per share versus $3.05 last year. Net sales increased 6% to $11.454 billion and comps increased 4% on top of 2% last year. Full year operating income rate was 17.1%, up 90 basis points to last year. Operating income dollars increased $209.6 million or 12%, driven by growth in all 3 business segments. Operating cash flow in 2014 was $1.786 billion. Free cash flow was $1.071 billion, and capital expenditures were $715 million. First quarter earnings forecast reflects a low to mid single-digit comp increase, reflects an updated February comp forecast of up mid single-digits. The company expects the first quarter gross margin rate to be about flat to last year. The company expects some deleverage in the SG&A rate, driven primarily by an increase in marketing and store selling cost. The company expects earnings per share between $0.50 and $0.55 in the first quarter against last year's $0.53 result. This forecast includes a net negative impact of about $0.03 related to a decline in operating income at Victoria's Secret Direct, as the company is lapping about $65 million in sales of non-go-forward apparel from last year. It also includes a negative $0.01 to $0.02 impact from foreign exchange. For the full year, the company projecting positive low single-digit comps. Total sales growth will be about 1 point higher than comps due to growth in square footage and international business. Foreign currency translation is expected to negatively impact sales growth by about 1 percentage point. The company expects full year gross margin rate to be about flat and the SG&A rate to be about flat to down slightly to last year. Nonoperating expenses, consisting principally of interest expense, are projected to be about $315 million, roughly flat to last year. Before any discrete items, the company estimate tax rate will be approximately 37.5% versus 36.3% in 2014. The higher projected tax rate in 2015 will negatively impact earnings per share by about $0.07. The company forecasting weighted average shares is about 300 million in the first quarter and the full year. Assuming all of these inputs, the company expects adjusted earnings per share for the full year 2015 to be between $3.45 and $3.65. This estimate includes an estimated negative impact from foreign exchange of about $0.10 to $0.12. The company projecting 2015 capital spending between $800 million and $850 million. About 70% of CapEx budget, is for real estate and stores. The remainder relates to investments in technology, logistics and facilities. The company expects 2015 free cash flow of about $700 million to $800 million. Free cash flow and cash position, along with the additional availability under revolving credit facility, results in very strong liquidity, which is more than sufficient to fund working capital, capital expenditures, dividends and any other foreseeable needs.

L Brands, Inc. to Expand 150 Stores

L Brands, Inc. to expand 150 stores.

L Brands, Inc. Increases Ordinary Dividend and Announces Special Dividend, Payable on March 6, 2015

L Brands, Inc. is increasing its annual ordinary dividend by 47%, to $2.00 per share from $1.36 per share. In addition, the company announced a special dividend of $2.00 per share. The quarterly ordinary dividend of $0.50 per share and the $2.00 special dividend will be paid on March 6, 2015, to shareholders of record on Feb. 20, 2015.


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