The NYSE-listed company said it now expects EPS of about US$2.00 for the period, compared with its prior guidance of US$1.95 to US$2.10, lower than consensus of US$2.04.
The guidance cut came as the company reported net sales of US$11.592bn for the 48 weeks to December 30, down from US$11.769bn a year earlier.
L Brands said net sales in December rose by 3% to US$2.516bn, while same-store sales rose by 1% in the month.
The group added: "The exit of the swim and apparel categories had a negative impact of about 3 percentage points and 5 percentage points to total company and Victoria's Secret comparable sales, respectively".
In pre-market trading in New York, L Brands shares were nearly 11% lower at US$51.80. In the regular session, shares plunged over 12% to US$51.04.