L Brands decreases 2016 full-year EPS guidance

Reported EPS for Q1 of the year ended April 30, 2016 was $0.52 as compared to $0.84 in the previous quarter, a fall of 38.09 per cent.

Net income reduced by 39.17 per cent to $152.3 million this quarter as compared to $250.4 million previously.

This was despite an increase of 4.05 per cent in net sales during the quarter to $2,613.81 million as compared to $2,511.93 million in the prior quarter.

L Brands issued a guidance of $0.50-$0.60 EPS for the second quarter of the year. (MCJ)

ALCHEMPro News Desk - India