Company profile

Ticker
LB
Exchange
Website
CEO
Leslie Herbert Wexner
Employees
Incorporated in
Location
Fiscal year end
Former names
Limited Brands Inc, Limited Inc
SEC CIK
IRS number
311029810

LB stock data

(
)

Calendar

6 Dec 19
17 Jan 20
1 Feb 20

News

Company financial data Financial data

Quarter (USD) Nov 19 Aug 19 May 19 Feb 19
Revenue 2.68B 2.9B 2.63B 4.85B
Net income -252M 38M 40M 540M
Diluted EPS -0.91 0.14 0.14 1.94
Net profit margin -9.41% 1.31% 1.52% 11.13%
Operating income -151M 175M 153M 800M
Net change in cash -513M -293M -267M 1.07B
Cash on hand 340M 853M 1.15B 1.41B
Cost of revenue 1.94B 1.92B 1.7B 2.88B
Annual (USD) Jan 17 Jan 16 Jan 15
Revenue 12.57B 12.15B 11.45B
Net income 1.16B 1.25B 1.04B
Diluted EPS 3.98 4.22 3.5
Net profit margin 9.21% 10.31% 9.10%
Operating income 2B 2.19B 1.95B
Net change in cash -614M 867M
Cash on hand 1.93B 2.55B 1.68B
Cost of revenue 7.45B 6.95B 6.65B

Financial data from L Brands earnings reports

13F holders
Current Prev Q Change
Total holders 406 441 -7.9%
Opened positions 46 53 -13.2%
Closed positions 81 81
Increased positions 156 156
Reduced positions 129 145 -11.0%
13F shares
Current Prev Q Change
Total value 43.48B 47.64B -8.7%
Total shares 197.14M 192.34M +2.5%
Total puts 9.82M 9.33M +5.3%
Total calls 4.5M 6.37M -29.4%
Total put/call ratio 2.2 1.5 +49.1%
Largest owners
Shares Value Change
Vanguard 25.95M $508.43M +2.0%
BLK BlackRock 21.01M $411.53M +5.3%
Primecap Management 18.58M $363.97M -1.6%
STT State Street 11.93M $233.69M +9.0%
AIG American International 9.99M $195.76M -8.8%
BK Bank Of New York Mellon 6.26M $122.7M -27.2%
N Price T Rowe Associates 4.81M $94.24M -4.4%
UBS UBS 3.97M $77.79M +629.8%
Geode Capital Management 3.79M $74.49M +2.4%
Aqr Capital Management 3.66M $71.7M +855.5%
Largest transactions
Shares Bought/sold Change
Skandinaviska Enskilda Banken AB 1.32M -3.64M -73.4%
UBS UBS 3.97M +3.43M +629.8%
Aqr Capital Management 3.66M +3.28M +855.5%
SRS Investment Management 0 -2.45M EXIT
BK Bank Of New York Mellon 6.26M -2.33M -27.2%
Disciplined Growth Investors 0 -1.86M EXIT
Samlyn Capital 0 -1.83M EXIT
Bridgewater Associates 2.73M +1.78M +188.3%
D. E. Shaw & Co. 1.82M -1.48M -44.9%
Arrowstreet Capital, Limited Partnership 1.13M +1.13M NEW

Financial report summary

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Risks
  • Our net sales, profit results and cash flows are sensitive to, and may be affected by, general economic conditions, consumer confidence, spending patterns, weather or other market disruptions.
  • Our net sales, operating income, cash and inventory levels fluctuate on a seasonal basis.
  • Our net sales depend on a volume of traffic to our stores and the availability of suitable lease space.
  • Our ability to grow depends in part on new store openings and existing store remodels and expansions.
  • Our plans for international expansion include risks that could impact our results and reputation.
  • Our licensees, franchisees and wholesalers could take actions that could harm our business or brand images.
  • Our direct channel businesses include risks that could have an effect on our results.
  • Our ability to protect our reputation could have a material effect on our brand images.
  • If our marketing, advertising and promotional programs are unsuccessful, or if our competitors are more effective with their programs than we are, our revenue or results of operations may be adversely affected.
  • Our ability to adequately protect our trade names, trademarks and patents could have an impact on our brand images and ability to penetrate new markets.
  • Our ability to compete favorably in our highly competitive segment of the retail industry could impact our results.
  • Our ability to manage the life cycle of our brands and to remain current with fashion trends and launch new product lines successfully could impact the image and relevance of our brands.
  • We may be impacted by our ability to adequately source, distribute and sell merchandise and other materials on a global basis.
  • We rely on a number of vendor and distribution facilities located in the same vicinity, making our business susceptible to local and regional disruptions or adverse conditions.
  • Fluctuations in foreign currency exchange rates could impact our financial condition and results of operations.
  • Our stock price may be volatile.
  • If we are unable to pay quarterly dividends at intended levels, our reputation and stock price may be harmed.
  • Our ability to maintain our credit rating could affect our ability to access capital and could increase our interest expense.
  • We may be impacted by our ability to service or refinance our debt.
  • Shareholder activism could cause us to incur significant expense, hinder execution of our business strategy and impact our stock price.
  • We may be impacted by our ability to recruit, train and retain key personnel.
  • We may be impacted by our ability to attract, develop and retain qualified associates and manage labor-related costs.
  • We may be impacted by our vendors’ ability to manufacture and deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations.
  • Our results may be affected by fluctuations in product input costs.
  • Our ability to adequately protect our assets from loss and theft.
  • Our results may be affected by fluctuations in energy costs.
  • We may be impacted by increases in costs of mailing, paper and printing.
  • We self-insure certain risks and may be impacted by unfavorable claims experience.
  • Retained or contingent liabilities from businesses that we divest could adversely affect our financial results.
  • We significantly rely on our ability to implement and sustain information technology systems and to protect associated data.
  • Our ability to maintain the security of customer, associate, third-party or company information could have an impact on our reputation and our results.
  • We may be impacted by our ability to comply with regulatory requirements.
  • We may be adversely impacted by certain compliance or legal matters.
  • We may be impacted by changes in taxation, trade and other regulatory requirements.
Management Discussion
  • ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
  • Our operating results are generally impacted by economic changes and, therefore, we monitor the retail environment using, among other things, certain key industry performance indicators including competitor performance and mall traffic data. These can provide insight into consumer spending patterns and shopping behavior in the current retail environment and assist us in assessing our performance as well as the potential impact of industry trends on our future operating results. Additionally, we evaluate a number of key performance indicators including comparable sales, gross profit, operating income and other performance metrics such as sales per average selling square foot and inventory per selling square foot in assessing our performance.
  • Our number one priority is improving performance at Victoria's Secret by staying close to our customer, improving our assortment and improving the customer experience in stores and online. We have new leaders at Victoria's Secret Lingerie and PINK, and we are looking at every aspect of our business: our marketing, brand positioning, internal talent, real estate portfolio, direct business and cost structure. We are focused on improving our merchandise assortment. We believe we have significant opportunities to improve our merchandise, making sure we have a robust product pipeline, fashion that our customers really want with high emotional content. We will also be expanding our assortment to include new and previously exited categories, but doing some things differently through new licensing opportunities in eyewear and swimwear.
Content analysis ?
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New words: appointing, BB, Bombshell, composition, counsel, deadline, frequently, group, grouped, guideline, indefinite, individual, Intangible, Intense, largely, lead, lowest, model, outlook, prestige, proceed, recoverable, relief, rental, selected, selection, Senior, Stable, strong, Subsidiary, weighted
Removed: leverage, reflected, sleep