L Brands Down Over 12% After 2Q Income Slide, Lowered FY18 Profit Guidance -- Data Talk

L Brands, Inc. (LB) is currently at $28.45, down $4.04 or 12.43%

-- Would be lowest close since Jan. 25, 2011, when it closed at $28.42

-- On pace for largest percent decrease since March 1, 2018, when it fell 13.87%

-- On Wednesday, L Brands reported its second-quarter net income fell 29% to $99 million, or 36 cents a share, and the company cut its FY18 profit guidance to a range of $2.45 to $2.70 a share, from $2.70 to $3 a share. Victoria's Secret PINK CEO Denise Landman plans to retire at the end of the year

-- Earlier Thursday, five firms cut their price target on L Brands shares, Benzinga reported

-- Currently down three consecutive days, down 13.97% over this period

-- Down 52.76% year-to-date

-- Would be a new 52-week closing low

-- Worst performer in the S&P 500 today

-- Second most active stock in the S&P 500 today

All data as of 10:56:56 AM

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

August 23, 2018 11:37 ET (15:37 GMT)

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