L Brands, Inc (LB) has reported 25.84 percent fall in profit for the quarter ended Oct. 29, 2016. The company has earned $121.64 million, or $0.42 a share in the quarter, compared with $164.03 million, or $0.55 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $121.64 million, or $0.42 a share compared with $164.03 million or $0.55 a share, a year ago. Revenue during the quarter grew 4.01 percent to $2,580.98 million from $2,481.58 million in the previous year period. Gross margin for the quarter contracted 183 basis points over the previous year period to 39.72 percent. Total expenses were 89.01 percent of quarterly revenues, up from 86.35 percent for the same period last year. That has resulted in a contraction of 266 basis points in operating margin to 10.99 percent.
Operating income for the quarter was $283.58 million, compared with $338.76 million in the previous year period.
However, the adjusted operating income for the quarter stood at $283.58 million compared to $338.76 million in the prior year period. At the same time, adjusted operating margin contracted 266 basis points in the quarter to 10.99 percent from 13.65 percent in the last year period.
The company expects diluted earnings per share to be in the range of $1.85 to $2 for the fourth-quarter.
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