As part of its ongoing commitment to return value to shareholders, L Brands, Inc. (NYSE:LB) announced today that its Board of Directors has authorized a new $250 million share repurchase program, which includes $10.3 million remaining under its previous $250 million share repurchase program.
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Cochrane is delighted to announce the signing of a new contract with John Wiley & Sons, Ltd., to publish the Cochrane Library for the next 10 years from January 2021. The agreement guarantees major investment into future development of the Library to sustain Cochrane as the world’s pre-eminent collection of high-quality evidence to inform global healthcare decision making. Cochrane’s Chief Executive Officer, Mark Wilson, warmly welcomed today’s announcement: “The Cochrane Library is central to Cochrane’s mission of producing and making available to the world high-quality, relevant, accessible systematic reviews and other evidence synthesis. Traffic to the Library has greatly increased over the past seven years as we have made it accessible in 12 languages and we have built a publishing platform that will enable us to deliver new journals, new databases and new features that will help us meet that mission as never before. We are confident we have a strong strategic partner with whom to work on the longer-term publishing challenges and opportunities.”
Kohl’s is proud to have been named to the 2020 Dow Jones Sustainability Index (DJSI) North America by S&P Global. This marks the third year in a row the company has received the designation for its sustainability performance and environmental, social and governance (ESG) commitments. “The DJSI’s continued recognition of Kohl’s serves as a reliable indicator of the strength of our ESG stewardship initiatives,” said Steve Thomas, Chief Risk and Compliance Officer for Kohl’s. “We believe that incorporating sustainable solutions into the way Kohl’s conducts business will help to build better futures for our customers, our associates, and their families and we are pleased to be acknowledged for these efforts.”
Second Quarter 2023 Results *Net sales decreased 4.8% year-over-year, to $3.7 billion, with comparable sales down 5.0%. *Gross margin as a percentage of net sales was 39.0%, a decrease of 61 basis points. *Selling, general & administrative (SG&A) expenses increased 1.6% year-over-year, to $1.3 billion. *Operating income was $163 million compared to $266 million in the prior year. *Net income was $58 million. This compares to net income of $143 million. *Inventory was $3.5 billion, a decrease of 14% year-over-year. *Operating cash flow was $430 million.