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Landbridge Company LLC (LB) provides essential energy infrastructure support through strategic land and resource management. This news hub offers investors and stakeholders centralized access to official announcements, operational updates, and financial developments.
Track critical information including earnings reports, partnership announcements, and resource management initiatives. Our curated collection ensures timely updates on LB's surface acreage utilization, royalty agreements, and energy sector positioning.
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- Operational expansions in oil/gas development
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Bookmark this page for streamlined monitoring of LB's evolving role in energy infrastructure. Check regularly for verified updates that impact long-term resource management strategies and market positioning.
L Brands, Inc. (NYSE: LB) has announced significant leadership changes at Victoria’s Secret, effective immediately. Martin Waters replaces John Mehas as CEO of Victoria’s Secret Lingerie. Other appointments include Laura Miller as Chief Human Resources Officer, Becky Behringer as Executive VP of North America Store Sales, and Janie Schaffer as Chief Design Officer. Sarah Nash, chair of L Brands' Board, expressed confidence in the new leaders' capabilities to drive business forward, especially during the holiday season, while acknowledging Mehas’s contributions.
L Brands reported impressive third-quarter results for 2020, with earnings per share of $1.17, a significant improvement from a loss of $0.91 in the same quarter last year. Operating income soared to $580.6 million, contrasting with an operating loss of $151.2 million in 2019. The company also achieved net sales of $3.055 billion, up from $2.677 billion year-over-year. However, the CEO cautioned that challenges may arise in the fourth quarter due to reduced store traffic and pandemic-related uncertainties.
L Brands is set to release its third-quarter 2020 earnings on November 18, 2020, followed by a live conference call on November 19, 2020, at 9:00 a.m. ET. The call will feature executives from the company and can be accessed via the company’s website or through dedicated domestic and international dial-in numbers. L Brands operates over 2,700 specialty stores across the US, Canada, the UK, and Greater China, featuring brands such as Bath & Body Works and Victoria’s Secret.
L Brands, Inc. (NYSE: LB) announced the expiration of its tender offers to purchase cash for its Senior Notes due 2022, 2023, 2037, and Exchange Debentures due 2033, with a maximum aggregate purchase price of $1 billion. As of the expiration date on October 14, 2020, the company accepted $808.47 million in principal amount of Notes, resulting in a payment of approximately $850.52 million on the settlement date of October 16, 2020. While the 2022 Notes received sufficient consent for proposed amendments, the 2023 Notes did not receive the requisite consent required for amendments.
L Brands, Inc. (NYSE: LB) announced an increase in the maximum aggregate purchase price for its Tender Offers from $750 million to $1 billion. This change affects its outstanding Senior Notes due 2022, 2023, 2037, and Exchange Debentures due 2033. The company is conditioning the Tender Offers on receiving proceeds from issuing at least $1 billion in senior unsecured debt securities. The Tender Offers will expire on October 14, 2020, unless extended, with key purchase dates set for October 1 and October 16, 2020.
L Brands announced an upsized offering of $1 billion in senior notes due 2030 with a 6.625% coupon, initially set at $750 million. The notes are guaranteed by domestic subsidiaries and are intended for a private placement. Proceeds will fund tender offers for certain outstanding notes totaling up to $1 billion. The offering closes on September 30, 2020, and is not contingent on the tender offers. The notes are not registered under the Securities Act, limiting their resale.
L Brands, Inc. (NYSE: LB) announced a private placement offering of $750 million in senior notes due 2030, guaranteed by domestic subsidiaries. The funds are designated for cash tender offers on existing senior notes, including those due in 2022, 2023, and 2037, with the intent to reduce overall debt. The offering is not contingent on the success of the tender offers and is aimed at refinancing efforts to enhance financial stability.
L Brands, Inc. (NYSE: LB) has initiated tender offers to buy back its outstanding debt, including the 5.625% Senior Notes due 2022 and 2023, 7.60% Notes due 2037, and 6.95% Exchange Debentures due 2033, with a maximum purchase price of $750 million. The company also intends to redeem all 6.625% Senior Notes due 2021. The offers are subject to certain conditions, including receiving proceeds from new debt issuance. Tenders may be withdrawn until September 29, 2020, and offers expire on October 14, 2020.
L Brands has partnered with Next PLC to form a joint venture for its Victoria's Secret business in the U.K. and Ireland. The deal allows Next to acquire the majority of Victoria's Secret U.K. assets currently in administration. Under the agreement, Next will own 51% and L Brands will own 49% of the venture. The new entity will manage all Victoria's Secret stores in the region and integrate online operations by Spring 2021. This initiative aims to secure over 500 local jobs and improve profitability for Victoria's Secret, leveraging Next's market expertise.
L Brands (NYSE: LB) announced significant cost reductions, targeting approximately $400 million annually, mainly through its profit improvement plan for Victoria’s Secret. The plan involves a 15% reduction in home office headcount, aiming for $175 million savings in fiscal 2020, alongside managing inventory and store operational costs. Most Bath & Body Works and Victoria’s Secret stores have reopened with better-than-expected sales, although total net sales are projected to decline 20%. The company maintains a strong cash position of over $2.5 billion.
