$XL announced that Group Controller Stephen Robb will succeed
Peter Porrino as CFO, following Mr. Porrino’s retirement, effective May 1,
2017. Mr. Porrino will continue with the company on a part-time basis, working
as an advisor to CEO Mike McGavick.
For FY17, $LB expect EPS to be in the range of $3.05-3.35. This forecast includes negative impacts related to the exit of the swim and apparel categories at Victoria’s Secret, continued investment in China and investment in real estate at Victoria’s Secret and Bath & Body Works. For 1Q17, $LB expects EPS to between $0.20-0.25.
raised the quarterly dividend on the company’s common stock from $0.34 per
share to $0.36 per share, which is equivalent to an annual rate of $1.44 per
share. The Board declared the 1Q17 common stock dividend payable April 20,
2017, to shareholders of record on March 15, 2017.
Apparel retailer $LB 4Q16 net income decreased marginally by 1% to $631.7MM, or $2.18 per share, compared to $636MM, or $2.15 per share in 4Q15. Net sales rose 2% YoY to $4.5Bil. Excluding items, $LB earned $2.03 per share, down 6%.
that Brad Grey will step down from his role as Chairman and CEO of Paramount
Pictures. The company is commencing a comprehensive search to identify a
successor, and Mr. Grey will remain at Paramount for a period to support the