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Nov. 11, 2019, 1:17 p.m. EST

Victoria's Secret parent L Brands downgraded as promotional discounts weigh

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By Tonya Garcia

L Brands Inc. /zigman2/quotes/202062875/composite LB +1.89% was downgraded to hold from buy at Deutsche Bank with analysts citing high promotional levels at Victoria's Secret and an increased number of promotions at beauty retailer Bath & Body Works. Analysts also think the turnaround at Victoria's Secret will be slower through the end of 2019 and into 2020. Deutsche Bank took a closer look at promotions across retail noting that analysts saw fewer discounts year-over-year at Target Corp. /zigman2/quotes/207799045/composite TGT +0.05% , which is scheduled to report third-quarter earnings Nov. 20. However, Deutsche Bank is "incrementally negative" on Nordstrom Inc. /zigman2/quotes/203902116/composite JWN -0.39% and Express Inc. /zigman2/quotes/210459169/composite EXPR -2.52% , which had increased promotions, raising concerns about margin pressure and inventory levels during the holiday shopping season. L Brands stock is down 52% over the last 12 months while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.50% is up 11% for the period.

/zigman2/quotes/202062875/composite
US : U.S.: NYSE
$ 16.70
+0.31 +1.89%
Volume: 1.97M
July 14, 2020 11:52a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.55 billion
Rev. per Employee
$148,898
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/zigman2/quotes/207799045/composite
US : U.S.: NYSE
$ 118.79
+0.06 +0.05%
Volume: 855,460
July 14, 2020 11:52a
P/E Ratio
22.06
Dividend Yield
2.29%
Market Cap
$59.37 billion
Rev. per Employee
$209,322
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/zigman2/quotes/203902116/composite
US : U.S.: NYSE
$ 15.29
-0.06 -0.39%
Volume: 2.48M
July 14, 2020 11:52a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$2.41 billion
Rev. per Employee
$214,324
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/zigman2/quotes/210459169/composite
US : U.S.: NYSE
$ 1.36
-0.04 -2.52%
Volume: 631,774
July 14, 2020 11:52a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$89.60 million
Rev. per Employee
$134,799
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/zigman2/quotes/210599714/realtime
US : S&P US
3,171.11
+15.89 +0.50%
Volume: 1.09B
July 14, 2020 11:52a
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