| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

Bond Market News

L Brands Raises Q4 Earnings Forecast; To Separate Victoria’s Secret and Bath & Body Works

February 8, 2021

L Brands, the parent company of Victoria’s Secret, said that it saw strong sales in January ahead of its quarterly earnings expected after two weeks. It increased its fourth quarter earnings guidance to $2.80/share and said that it expects same-store sales to increase by 10% in the quarter, including a 22% increase at Bath & Body Works and a 3% drop at Victoria’s Secret. The company also reiterated its plans to separate its two brands, Victoria’s Secret and Bath & Body Works, by August. L Brands had struck a deal to sell Victoria’s Secret last year but the deal fell apart during the pandemic. The company is considering a spinoff of Victoria’s Secret into a public company or selling off the business. Bath & Body Works has been growing faster especially after the pandemic with an increased use of soaps and sanitizers.

L Brands’ shares are up 21% MTD and its bonds have also moved higher this month. Its 5.25% 2028s are up 2.7% this month to 109.11, yielding 3.75% and its 6.95% 2033s are up 5.2% in February to 111.5, yielding 5.62%.

For the full story, click here

Related Posts:
Registered office: 8 Marina View, #43-062 Asia Square Tower 1, Singapore 018960
© Copyright BondbloX 2024, All Rights Reserved.