Ahead of its separation from iconic lingerie brand Victoria’s Secret next month, the beauty retailer has revealed plans to expand in skincare and hair products as it carves a path for itself as an independent company,
Ahead of the lingerie brand’s spin-off as a separate business, L Brands held an investor day on Monday to outline plans for the future of Victoria’s Secret, including new store concepts and digital development.
L Brands Inc. said on Tuesday the firm is increasing its second quarter earnings guidance, as strong customer response to merchandise assortments and improved inventory management saw promotional activity reduced.
The Victoria’s Secret parent company announced net income of $276.6 million, or $0.97 per share, for the first quarter on Wednesday. Adjusted earnings per share totaled $1.25, beating analysts’ estimates of $1.25.
The company revealed that its board has unanimously approved its planned spin-off of the Victoria’s Secret brand on Tuesday and provided further details about the transaction, as well as preliminary Q1 financial results.
L Brands, the parent company of Victoria’s Secret and Bath & Body Works, announced on Friday that it was increasing its first quarter earnings guidance for a second time this month, due to improved sales trends.