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Nov. 2, 2015, 6:14 PM
- L Brands' (NYSE:LB) October same-store sales are expected to be up 5% Y/Y, with Victoria's Secret and Bath & Body Works comps each rising 5%. Total Victoria's Secret Direct sales (not included in the same-store figure) are expected to be up 7%.
- The company now expects Q3 EPS of $0.51-$0.53, above prior guidance of $0.40-$0.45 and a $0.48 consensus. Q3 results arrive on Nov. 18.
- LB +1.4% after hours to $97.76. The 52-week high is $97.93.
Nov. 2, 2015, 11:37 AM
- Yoga pants are knocking at the door of business offices, according to The Boston Globe
- There's been a growing acceptance to count yoga pants as "business casual" at some workplaces. The trend could continue as younger managers take over.
- The broader athleisure category generated sales of over $2B last year and is expected to grow at a double-digit clip this year.
- Companies seen growing their presence in athleisure include Lululemon (NASDAQ:LULU), Gap (NYSE:GPS), Nike (NYSE:NKE), Target (NYSE:TGT), Dick's Sporting Goods (NYSE:DKS), Hanesbrands (NYSE:HBI), L Brands (NYSE:LB), Under Armour (NYSE:UA), and Kate Spade (NYSE:KATE). Other retailers such as Ann (NASDAQ:ASNA), New York & Companies (NYSE:NWY), and J.C. Penney (NYSE:JCP) are creating new brands in an effort to recapture lost business clothing sales from casual attire becoming more prominent.
Oct. 12, 2015, 10:49 AM
- Cotton prices are expected to fall sharply this year and into 2016 due to a variety of market factors - including lower demand for yarn and a drop in polyester prices.
- Companies with an eye on the level of cotton prices based on recent conference calls transcripts posted on SA include Hanesbrands (NYSE:HBI), Carter's (NYSE:CRI), Vera Bradley (NASDAQ:VRA), PVH Corp (NYSE:PVH), Williams-Sonoma (NYSE:WSM), Chico's FAS (NYSE:CHS), Express (NYSE:EXPR), L Brands (NYSE:LB), Gildan Activewear (NYSE:GIL), and The Children's Place (NASDAQ:PLCE),
Oct. 8, 2015, 10:20 AM
- The apparel sector is out-gaining market averages as sentiment swings positive. There's been some analysis suggesting that apparel sellers will benefit from the Trans-Pacific Partnership on the cost side. Lower cotton and oil prices are also working in the favor of apparel companies, although hedging against the strong U.S. dollar is an ongoing risk.
- On the manufacturing side: G-III Apparel (NASDAQ:GIII) +2.6%, Columbia Sportswear (NASDAQ:COLM) +2.1%, Michael Kors (NYSE:KORS) +1.8%, PVH Corp. (NYSE:PVH) +1.6%, Ralph Lauren (NYSE:RL) +1.4%.
- On the chain store side: Cato (NYSE:CATO) +5.1%, Ascena Retail (NASDAQ:ASNA) +3.4%, American Eagle Outfitters (NYSE:AEO) +3.4%, Abercrombie & Fitch (NYSE:ANF) +3.1%, Francesca's Holdings (NASDAQ:FRAN) +2.6%, L Brands (NYSE:LB) +2.1%.
Oct. 8, 2015, 7:21 AM
- L Brands (NYSE:LB) reports comparable-store sales shot up 9% in September.
- Total sales increased 8% to $919.9M during the month.
- YTD comparable-store sales through October 3 are up 5%.
- YTD total sales are up 2% to $7.023B.
- The company says it expects Q3 EPS of $0.18-$0.22 vs. $0.12-$0.16 prior guidance.
Sep. 17, 2015, 7:30 AM
- MKM Partners upgrades TJX Companies (NYSE:TJX) to a Buy rating after having the retailer set at Neutral.
- Gap (NYSE:GPS) and L Brands (NYSE:LB) were started off by MKM with Buy ratings.
- The investment firm initiated coverage on Express (NYSE:EXPR) and Chico's FAS (NYSE:CHS) at Neutral.
- On a broad scale, U.S. retail sales have held steady over the last six months with no slips into negative territory.
Sep. 11, 2015, 2:31 PM
- L Brands (LB +0.7%) says it will phase out "on-call scheduling" at Victoria's Secret stores and Bath and Body Works outlets.
- The practice of scheduling employee's hours base on algorithms and sudden needs has faced scrutiny in the retail sector.
Sep. 4, 2015, 10:11 AM
- L Brands (LB +0.1%) rode a strong month for Victoria's Secret to a rousing 6% comp in August which easily topped the 2% decline at Gap (GPS -2.2%). Gap execs pointed to the late Labor Day weekend as a factor in the tail-off, although L Brands said the magnitude of the calendar effect was only one or two percentage points.
- On a pre-recorded sales call, L Brands CIO Amy Preston noted sales gains were paced by bras and the Pink brand. She said the company expects another positive comp for September.
- Retail analysts have noted that L Brands has put out a strong back-to-school assortment.
Sep. 3, 2015, 7:08 AM
- L Brands (NYSE:LB) reports same-store sales increased 6% in August.
- Total sales were up 8% to $765.3M during the month.
Aug. 26, 2015, 8:53 PM
- Gap (NYSE:GPS) says it is ending a controversial scheduling practice that changed workers’ schedules with little notice, and now plans to give workers at least 10 days notice as part of a push to improve work-life balance.
- The move follows an inquiry by the New York state attorney general's office into the legality of on-call shifts at 13 retailers, including Gap, Target (NYSE:TGT), JC Penney (NYSE:JCP),Abercrombie & Fitch (NYSE:ANF) and TJX Cos. (NYSE:TJX)
- GPS says its five brands - Athleta, Banana Republic, Gap, Intermix and Old Navy - will stop on-call scheduling by the beginning of next year.
- ANF said earlier this month that it would end the practice for all workers paid by the hour, while lingerie retailer L Brands' Victoria's Secret (NYSE:LB) said in June it would end on-call shifts for workers.
Aug. 19, 2015, 5:37 PM
Aug. 19, 2015, 5:32 PM
- L Brands (NYSE:LB) raises full-year EPS guidance to $3.58-$3.73 vs. $3.50-$3.70 prior and $3.73 consensus.
- Q3 EPS guidance is set at $0.40-$0.45 vs. $0.47 consensus.
- General expenses including store operating costs at L Brands have been growing slightly faster than some estimates.
- Previously: L Brands EPS in-line, misses on revenue (Aug. 19)
- LB -1.08% in after-hours trading.
Aug. 19, 2015, 4:31 PM
- L Brands (NYSE:LB): Q2 EPS of $0.68 in-line.
- Revenue of $2.77B (+3.4% Y/Y) misses by $30M.
Aug. 18, 2015, 5:35 PM
Aug. 8, 2015, 11:02 AM
- Retail sales take center stage next week with a rebound for July expected after the headline number fell in June.
- The consensus estimate is for a 0.5% M/M increase, although some projections range as high as 1%. A reading in negative territory could rattle markets.
- Only handful of retail chains still issue monthly sales reports, but many of those that do reported positive growth for July. Costco (NASDAQ:COST), Fred's (NASDAQ:FRED), L Brands (NYSE:LB), Stein Mart (NASDAQ:SMRT), and Rite Aid (NYSE:RAD) all showed pockets of strength. Mall retailers Cato (NYSE:CATO), Zumiez (NASDAQ:ZUMZ), and Buckle (NYSE:BKE) were disappointments. Full Thomson/Reuters analysis (.pdf)
- Two new factors emerged last week which could impact the U.S. retail sales print: (1) U.S. auto sales topped estimates for July; (2) several retailers warned later sales tax holidays in key states pushed back-to-school spending into August from July.
- There's also the question if Wal-Mart's (NYSE:WMT) Amazon Prime Day counterpunch stoked extra sales. The Bentonville giant and Amazon (NASDAQ:AMZN) both reported strong responses.
- On a broader scale, the retail sales report will factor into forecasts on when the Federal Reserve will lift interest rates.
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Aug. 7, 2015, 12:01 PM
- L Brands (NYSE:LB) declares $0.50/share quarterly dividend, in line with previous.
- Forward yield 2.48%
- Payable Sept. 4; for shareholders of record Aug. 21; ex-div Aug. 19.
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