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Fly News Breaks for March 8, 2018
LB
Mar 8, 2018 | 11:11 EDT
L Brands' February sales showed "severe" Victoria's Secret promotions, "terrible" store traffic and "about flat" Pink comps, Jefferies analyst Randal Konik tells investors in a research note. The Victoria's Secret brand is "broken and Pink is about to fall," the analyst contends. He recommends selling shares of L Brands before Pink growth hits the negative inflection, which he calls a "huge red flag." The analyst reiterates an Underweight rating on L Brands with a $30 price target. The stock in morning trading is down 4% to $42.35.
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