Feb 26 (Reuters) - L Manufacturers Inc LB.N on Wednesday forecast a loss for the primary quarter, d
Feb 26 (Reuters) – L Manufacturers Inc LB.N on Wednesday forecast a loss for the primary quarter, days after it determined to promote a controlling stake in its struggling Victoria’s Secret lingerie unit, sending its shares down practically 3% in after-market buying and selling.
The Bathtub & Physique Works cosmetics maker expects a lack of 5 cents per share on an adjusted foundation within the first quarter, whereas analysts on common have been anticipating it to earn 10 cents per share, based on IBES knowledge from Refinitiv.
L Manufacturers earlier this month mentioned Victoria’s Secret would develop into privately owned, with funding agency Sycamore Companions proudly owning a 55% stake and firm’s longtime Chief Government Officer Leslie Wexner stepping down.
(Reporting by Praveen Paramasivam in Bengaluru; Modifying by Arun Koyyur)
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