L Brands: Good News For Shareholders In Sales Report, Less Excitement On Wall Street
L Brands Inc (NYSE: LB) had plenty of good news for investors in a fourth-quarter sales report Thursday morning, but Wall Street wasn't biting in pre-market trading.
The clothing retailer posted fourth-quarter revenues of $4.395 billion, cruising past analyst estimates of $4.37 billion. The company is expected to report an EPS of $2.05 for the quarter in a fourth-quarter earnings report to be released February 25, above analyst consensus of $2.00 and L Brands' previous guidance of $1.85 to $1.95.
L Brands chairman and CEO Leslie Wexner claimed the company had its "best year ever" in 2015, and announced some treats for shareholders.
The company raised its annual ordinary dividend from $2.00 to $2.40, will pay out a $2.00 per share special dividend, and will buy back $500 million in stock in 2016.
Wall Street wasn't energized by the report at time of writing, with L Brands shares trending slightly down before market open.
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