More Trouble in the Mall: L Brands Stock Tanks on Lowered Earnings Outlook
More trouble at L Brands, as a lowered earnings outlook sends the shares lower Thursday.
Another mall retailer is finding that sales are looking a bit skimpy. L Brands (LB) - Get Report , the parent company of Victoria's Secret, lowered its earnings outlook after reporting lower-than-expected same-store sales in December. The company also forecast January sales to be flat. The disclosure comes as other mall retailers have struggled with sales during December. L Brands also owns Bath & Body Works. The company's stock moved sharply lower Thursday, extending its recent steep drop. The stock lost more than 30% in 2016.
