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L Brands Beats Profit Forecasts

The Victoria's Secret owner reported fiscal fourth-quarter profit of $664.1 million, beating Wall Street expectations.
Victoria's Secret | Source: Courtesy
By
  • Associated Press

COLUMBUS, Ohio — L Brands Inc. on Wednesday reported fiscal fourth-quarter profit of $664.1 million.

The Columbus, Ohio-based company said it had profit of $2.33 per share. Earnings, adjusted for pretax gains, came to $2.11 per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.04 per share.

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $4.82 billion in the period, which matched Street forecasts.

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For the year, the company reported profit of $983 million, or $3.42 per share. Revenue was reported as $12.63 billion.

L Brands expects full-year earnings to be $2.95 to $3.25 per share.

L Brands shares have declined 18 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 1.5 percent. In the final minutes of trading on Wednesday, shares hit $49.34, a decrease of 6 percent in the last 12 months.

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