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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 -1.38% 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 +0.28% , which is scheduled to report third-quarter earnings Nov. 20. However, Deutsche Bank is "incrementally negative" on Nordstrom Inc. /zigman2/quotes/203902116/composite JWN +0.40% and Express Inc. /zigman2/quotes/210459169/composite EXPR +9.80% , 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 +0.91% is up 11% for the period.

/zigman2/quotes/202062875/composite
US : U.S.: NYSE
$ 17.82
-0.25 -1.38%
Volume: 7.41M
Dec. 6, 2019 6:30p
P/E Ratio
13.64
Dividend Yield
6.73%
Market Cap
$4.93 billion
Rev. per Employee
$148,898
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/zigman2/quotes/207799045/composite
US : U.S.: NYSE
$ 125.03
+0.35 +0.28%
Volume: 4.31M
Dec. 6, 2019 6:30p
P/E Ratio
19.98
Dividend Yield
2.11%
Market Cap
$63.36 billion
Rev. per Employee
$209,322
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/zigman2/quotes/203902116/composite
US : U.S.: NYSE
$ 37.56
+0.15 +0.40%
Volume: 1.85M
Dec. 6, 2019 6:30p
P/E Ratio
10.93
Dividend Yield
3.94%
Market Cap
$5.83 billion
Rev. per Employee
$214,324
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/zigman2/quotes/210459169/composite
US : U.S.: NYSE
$ 5.49
+0.49 +9.80%
Volume: 5.12M
Dec. 6, 2019 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$369.30 million
Rev. per Employee
$134,799
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/zigman2/quotes/210599714/realtime
US : S&P US
3,145.91
+28.48 +0.91%
Volume: 1.70B
Dec. 6, 2019 5:07p
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