L Brands Inc. (NYSE: LB) released its fiscal second-quarter financial results after the markets closed on Wednesday. The retailer said that it had $0.24 in earnings per share (EPS) and $2.90 billion in revenue, which compares with consensus estimates of $0.19 in EPS and revenue of $2.95 billion. The same period of last year reportedly had EPS of $0.36 on $2.98 billion in revenue.

During the latest quarter, comparable sales decreased 1% compared to the second quarter of last year. In terms of the comparable sales breakdown: Victoria’s Secret decreased 6% and Bath & Body Works increased 8%.

In terms of the segment sales:

• Victoria’s Secret had net sales of $1.61 billion, consisting of in-store sales of $1.23 billion and direct sales of $373.1 million.
• Bath & Body Works had net sales of $1.06 billion, with in-store sales of $882.5 million and direct sales of $178.4 million.

Looking ahead, the company expects to see EPS in the range of −$0.05 to $0.05 for the fiscal third quarter and $2.30 to $2.60 for the full year. Consensus estimates call for $0.08 in EPS for the third quarter and $2.45 for the full year.

See why L Brands CEO Les Wexner is among the chief executives who need to go.

Shares of L Brands traded down about 10% Thursday morning to $18.31, in a 52-week range of $18.01 to $38.00. The consensus price target is $27.24.

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