L Brands turned in mixed third-quarter results Wednesday as declining sales at Victoria's Secret have continued to weigh its performance.
"There's a big belief in the company that we need to evolve," said John Mehas, who took over as CEO after Singer left. Mehas was speaking at, where the company discussed efforts it would be making to revive sales.
Strong sales at Bath & Body works, meanwhile, have been the saving grace of L Brands, though some analysts expect its sales have peaked. Despite the store's strong same-store sales growth of 8% last quarter, Jeffries analyst Randal Konik pointed to slowing store traffic and moderating demand for candles last quarter as a signal that Bath & Body Works is headed for the downside.
In its outlook for the third quarter, L Brands had forecast profits ranging between a loss of 5 cents per share and a gain of 5 cents per share.
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