LB L Brands

L Brands, Inc. is an American fashion retailer based in Columbus, Ohio. Its flagship brands include Victoria's Secret and Bath & Body Works. L Brands posted $12.914 billion in revenue in 2019, and was listed as 248 on the 2020 Fortune 500 list of largest United States companies by revenue.
Company profile
Ticker
LB
Exchange
Website
CEO
Andrew Meslow
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
LIMITED BRANDS INC, LIMITED INC
SEC CIK
Corporate docs
IRS number
311029810
LB stock data
()
News
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Press releases
Victoria's Secret Unveils Mother's Day Campaign
13 Apr 21
Thinking about trading options or stock in L Brands, Nio, Exxon Mobil, Wynn Resorts, or Carnival Corp?
26 Mar 21
L Brands Increases First Quarter Earnings Guidance
26 Mar 21
L Brands Announces Board of Directors Changes
18 Mar 21
L Brands Announces Actions to Drive Further Shareholder Value
12 Mar 21
Calendar
19 Mar 21
22 Apr 21
30 Jan 22
Financial summary
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Financial data from L Brands earnings reports.
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
31 Mar 21 | Andrew Meslow | Common Stock, $0.50 par value | Payment of exercise | Dispose F | No | No | 61.86 | 8,526 | 527.42K | 258,711 |
31 Mar 21 | Bersani James L. | Common Stock, $0.50 par value | Payment of exercise | Dispose F | No | No | 61.86 | 7,162 | 443.04K | 190,953 |
22 Mar 21 | Wexner Leslie H. | Common Stock | Sell | Dispose S | Yes | No | 58.31 | 50,000 | 2.92M | 141,515 |
22 Mar 21 | Wexner Leslie H. | Common Stock | Sell | Dispose S | Yes | No | 58.31 | 1,000,000 | 58.31M | 5,111,181 |
22 Mar 21 | Wexner Leslie H. | Common Stock | Sell | Dispose S | Yes | No | 58.31 | 2,000,000 | 116.62M | 0 |
22 Mar 21 | Wexner Leslie H. | Common Stock | Gift | Aquire G | Yes | No | 0 | 2,000,000 | 0 | 2,000,000 |
22 Mar 21 | Wexner Leslie H. | Common Stock | Gift | Dispose G | No | No | 0 | 2,000,000 | 0 | 15,303,614 |
21 Mar 21 | Bersani James L. | Common Stock, $0.50 par value | Payment of exercise | Dispose F | No | No | 60.54 | 1,329 | 80.46K | 198,115 |
21 Mar 21 | Andrew Meslow | Common Stock, $0.50 par value | Payment of exercise | Dispose F | No | No | 60.54 | 15,550 | 941.4K | 267,237 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
77.1% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 428 |
Opened positions | 107 |
Closed positions | 37 |
Increased positions | 129 |
Reduced positions | 139 |
13F shares |
Current |
---|---|
Total value | 21.7B |
Total shares | 215.13M |
Total puts | 7.97M |
Total calls | 17.82M |
Total put/call ratio | 0.4 |
Largest owners |
Shares | Value |
---|---|---|
Lone Pine Capital | 26.27M | $976.8M |
Vanguard | 23.13M | $860.11M |
Melvin Capital Management | 19.66M | $731.29M |
Egerton Capital | 15.82M | $588.34M |
BLK Blackrock | 13.24M | $492.33M |
Primecap Management | 11.49M | $427.43M |
STT State Street | 8.34M | $310.15M |
Coatue Management | 6.33M | $235.42M |
Steadfast Capital Management | 5.56M | $206.72M |
Candlestick Capital Management | 4.36M | $161.99M |
Financial report summary
?Risks
- Our net sales, profit results and cash flows are sensitive to, and may be affected by, general economic conditions, consumer confidence, spending patterns, significant health hazards or pandemics, weather or other market disruptions.
- The novel coronavirus global pandemic has had and is expected to continue to have an adverse effect on our business and results of operations.
- Our net sales, operating income, cash and inventory levels fluctuate on a seasonal basis.
- The proposed separation of the Victoria’s Secret business and related operations could negatively impact our business, and contingent liabilities from the divestiture of such business could adversely affect our financial position and results of operations.
- Retained or contingent liabilities from businesses that we divest could adversely affect our financial results.
- Turnover in company leadership or other key positions may have an adverse impact on company performance.
- We may be impacted by our ability to attract, develop and retain qualified associates and manage labor-related costs.
- 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 international operations and 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 maintain, enforce and 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.
- 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 the cost of mailing, paper, printing or other order fulfillment logistics.
- We self-insure certain risks and may be impacted by unfavorable claims experience.
- We significantly rely on our and our third-party service providers' ability to implement and sustain information technology systems and to protect associated data and system availability.
- Any significant compromise or breach of our data security, including the security of customer, associate, third-party or company information, could have a material adverse effect on our reputation, results of operations, financial condition and cash flows.
- Our stock price may be volatile.
- If we are unable to pay quarterly dividends at intended levels, our reputation and stock price may be impacted.
- Shareholder activism could cause us to incur significant expense, hinder execution of our business strategy and impact our stock price.
- Our ability to maintain our credit rating could affect our ability to access capital and could increase our interest expense.
- We may be unable to service or refinance our debt or maintain compliance with restrictive covenants in our debt instruments, including our Asset-Backed Revolving Credit Facility.
- Changes in laws, regulations or technology platform rules relating to data privacy and security, or any actual or perceived failure by us to comply with such laws and regulations, or contractual or other obligations relating to data privacy and security, could have a material adverse effect on our reputation, results of operations, financial condition and cash flows.
- 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.
- In March 2020, the spread of COVID-19 was declared a global pandemic by the World Health Organization. This pandemic has negatively affected the U.S. and global economies, disrupted global supply chains and financial markets, and led to significant travel and transportation restrictions, including mandatory closures and orders to “shelter-in-place.” The actions that governments around the world have taken to contain the spread of COVID-19 have resulted in a period of disruption, including closure of our stores, limited store operating hours, reduced customer traffic and consumer spending and delays in manufacturing and shipping of products and raw materials. During this period, we are focused on protecting the health and safety of our customers, employees, contractors, suppliers and other business partners. We are also working with our suppliers to minimize potential disruptions, while managing our business in response to a changing dynamic.
Content analysis
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New words:
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Removed:
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Financial reports
10-K
2020 FY
Annual report
19 Mar 21
10-Q
2020 Q3
Quarterly report
4 Dec 20
10-Q
2020 Q2
Quarterly report
3 Sep 20
10-Q
2020 Q1
Quarterly report
3 Jun 20
10-K
2020 FY
Annual report
29 Mar 20
10-Q
2019 Q3
Quarterly report
6 Dec 19
10-Q
2019 Q2
Quarterly report
6 Sep 19
10-Q
2019 Q1
Quarterly report
4 Jun 19
10-K
2018 FY
Annual report
22 Mar 19
10-Q
2018 Q3
Quarterly report
4 Dec 18
Current reports
8-K
L Brands Increases First Quarter Earnings Guidance
26 Mar 21
8-K
L Brands Announces Board of Directors Changes
18 Mar 21
8-K
L Brands Announces Actions to Drive Further Shareholder Value
12 Mar 21
8-K
L Brands Reports Record Fourth Quarter 2020 Results
24 Feb 21
8-K
L Brands Announces Chief Financial Officer Stuart Burgdoerfer to Retire In August 2021
5 Feb 21
8-K
L Brands Reports Holiday 2020 Sales and Provides
8 Jan 21
8-K
L Brands Reports Record Third Quarter 2020 Results
18 Nov 20
8-K
Regulation FD Disclosure
13 Nov 20
8-K
L Brands Announces the Expiration and Final Results of its Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes
19 Oct 20
8-K
L Brands Announces Updated Results of its Cash Tender Offers and Amendment of Early Tender Time
30 Sep 20
Registration and prospectus
S-8
Registration of securities for employees
9 Dec 20
424B5
Prospectus supplement for primary offering
7 Jun 19
FWP
Free writing prospectus
5 Jun 19
424B5
Prospectus supplement for primary offering
5 Jun 19
S-3ASR
Automatic shelf registration
29 Jan 19
424B3
Prospectus supplement
16 Sep 18
S-4
Registration of securities issued in business combination transactions
10 Sep 18
424B5
Prospectus supplement for primary offering
8 Jan 18
424B5
Prospectus supplement for primary offering
7 Jan 18
FWP
Free writing prospectus
7 Jan 18
Proxies
DEFA14A
Additional proxy soliciting materials
8 Apr 21
DEF 14A
Definitive proxy
8 Apr 21
DEFA14A
Additional proxy soliciting materials
27 Apr 20
DEFA14A
Additional proxy soliciting materials
3 Apr 20
DEF 14A
Definitive proxy
2 Apr 20
PRE 14A
Preliminary proxy
23 Mar 20
DEF 14A
Definitive proxy
23 Apr 19
PX14A6G
Letter to shareholders
17 Apr 18
DEFA14A
Additional proxy soliciting materials
5 Apr 18
DEF 14A
Definitive proxy
4 Apr 18
Other
SD
Conflict minerals disclosure
29 May 20
SD
Conflict minerals disclosure
29 May 19
EFFECT
Notice of effectiveness
16 Sep 18
SD
Conflict minerals disclosure
30 May 18
SD
Conflict minerals disclosure
30 May 17
UPLOAD
Letter from SEC
24 Jan 17
CORRESP
Correspondence with SEC
16 Jan 17
UPLOAD
Letter from SEC
5 Jan 17
UPLOAD
Letter from SEC
13 Oct 16
CORRESP
Correspondence with SEC
3 Oct 16
Ownership
4
L Brands / Andrew Meslow ownership change
2 Apr 21
4
L Brands / James L. Bersani ownership change
2 Apr 21
4
L Brands / Leslie H. Wexner ownership change
24 Mar 21
SC 13D/A
L Brands / Wexner Leslie H. ownership change
24 Mar 21
4
L Brands / Andrew Meslow ownership change
23 Mar 21
4
L Brands / James L. Bersani ownership change
23 Mar 21
4
L Brands / Danielle M. Lee ownership change
18 Mar 21
4
L Brands / Francis Hondal ownership change
18 Mar 21
4
L Brands / Julie Rosen ownership change
18 Mar 21
4
L Brands / Deon Riley ownership change
18 Mar 21
Transcripts
2020 Q4
Earnings call transcript
25 Feb 21
2020 Q3
Earnings call transcript
19 Nov 20
2020 Q2
Earnings call transcript
20 Aug 20
2020 Q1
Earnings call transcript
21 May 20
2019 Q4
Earnings call transcript
27 Feb 20
2019 Q3
Earnings call transcript
21 Nov 19
2019 Q2
Earnings call transcript
22 Aug 19
2019 Q1
Earnings call transcript
23 May 19
2018 Q4
Earnings call transcript
28 Feb 19
2018 Q3
Earnings call transcript
20 Nov 18
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7 Apr 21
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5 Apr 21
Wall Street Week Ahead for the trading week beginning April 5th, 2021
3 Apr 21
Wall Street Week Ahead for the trading week beginning April 5th, 2021
3 Apr 21
LB Brand Calls for the 16th look pretty good.
31 Mar 21