L Manufacturers shares fell four p.c postmarket Monday after the corporate mentioned it could slash its annual dividend in half to $1.20.

The corporate, identified for its manufacturers Victoria’s Secret and Bathtub & Physique Works, beat revenue expectations. L Manufacturers reported adjusted earnings of 16 cents a share versus a Refinitiv estimate of 15 cents. It additionally reported $2.77 billion for the third quarter, consistent with the preliminary gross sales figures it launched on Nov. 8.

It additionally raised its full-year earnings outlook, saying it now expects earnings between $2.60 a share to $2.80 a share. The corporate had beforehand forecast full-year earnings between $2.45 a share and $2.70 a share.

L Manufacturers mentioned shops open greater than a yr noticed gross sales rise four p.c yr over yr, additionally consistent with the preliminary outcomes it launched earlier this month.

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