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"We feel the increased presence is necessary," the official said, citing North Korea's worrisome behavior. The news was first reported by Reuters. In a statement late Saturday, the U.S. Navy's Third Fleet said the strike group had been directed to sail north, but it did not specify the destination. The military vessels will operate in the Western Pacific rather than making previously planned port visits to Australia, it added. This year North Korean officials, including leader Kim Jong Un, have repeatedly indicated an intercontinental ballistic missile test or something similar could be coming, possibly as soon as April 15, the 105th birthday of North Korea's founding president and celebrated annually as "the Day of the Sun." Earlier this week U.S. President Donald Trump and Chinese President Xi Jinping met in Florida, where Trump pressed his counterpart to do more to curb North Korea's nuclear program. Trump's national security aides have completed a review of U.S. options to try to curb North Korea's nuclear and missile programs.
Management said that the later Easter holiday this year (Easter falls on April 16 in 2017, compared to March 27 last year), along with the company's decision in the last year to cut swimwear from its Victoria's Secret line, contributed to the decline in sales. The stock got a lift today, but it's still down about 50% over the last two years. More From Fool.com Continue Reading Below ADVERTISEMENT Like many similar retailers, L Brands has faced a tough last few years, as e-commerce pressure and an increasingly competitive space have made same-store sales and increased earnings a challenge for most of the industry. For full-year 2016, the company actually reported a 3% increase in sales year over year, but warned that first-quarter sales would see a decline. More troubling, however, is that its earnings per share fell nearly 6% for the year compared with 2015. For full-year 2017, the company expects another 16% to 23% drop in EPS from 2016. L Brands certainly has a lot of assets to work with, including more than 3,000 company-owned specialty stores across North America, the U.K., and China -- including the first full-assortment Victoria's Secret store in China, which opened March 8. The stock also has some interesting points, including its price-to-earnings ratio of less than 12, and its 5.2% dividend yield. Still, the company will need to prove that it can stop the bleeding, and turn earnings back around, before it looks like an interesting play. 10 stocks we like better than L Brands When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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