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L Brands, Inc. Message Board

  • DSTSTOCK DSTSTOCK Jun 11, 1998 11:35 PM Flag

    Intimate Brands

    Anyone know why Pru lowered IBI ratings to hold from buy?????
    Anyone even reading this?????

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    • Reading your message, yes. Knowing the reason for
      the downgrade, no. Since the furor over the ABF
      exchange has died down, I think everyone is taking a deep
      breath and waiting to see what direction LTD is going to
      go. I'm not very concerned about the downgrade of
      IBI. I'm much more interested in management's plans
      for turning LTD around. The stock price has jumped
      nicely this year, but the company itself is still having
      problems, especially with it's flagship brand, The Limited
      stores.

      • 1 Reply to StockBeagle
      • Glad to see someone is still looking at the board
        and thanks
        for the response.

        Last month's
        same store sales growth numbers for IBI (3%) were
        lower than the entire LTD company - a wierd
        situation.
        Both LTD flagship brands stores and IBI closed lots
        of
        underperforming stores and that surely helped LTD and I
        would
        have thought given IBI a boost also.
        So the
        slowdown in IBI seems strange.
        I do wonder about the
        LTD underperforming brands situation.
        Is the sales
        number reflective of some better performances
        brought
        about by the new people and greater attention
        of
        some oldtimers or just a reflection of getting rid of
        stores
        that were habitually poor performers to reveal the
        best of
        the locations.
        If no real corporate
        improvement has been brought to the
        LTD base of brands, I
        would think some of the remaining stores could
        eventually show the deterioration that started
        to hit
        this company a few years ago.
        I have seen plenty of
        times a company claim it has tightened
        up its
        operations (you know, look for better locations, keep
        the
        merchandise fresher, make each store nameplate a
        distinct
        brand with a distinct image, respond faster to changes
        in consumer tastes,etc) but really it mostly just
        continued to do the same things with a different store
        base.

 
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