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L Brands Beats Street 4Q Forecasts

L Brands Inc. on Wednesday reported fiscal fourth-quarter net income of $636 million. The results surpassed Wall Street expectations.
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  • Associated Press

COLUMBUS, United States — L Brands Inc. on Wednesday reported fiscal fourth-quarter net income of $636 million.

The Columbus, Ohio-based company said it had profit of $2.15 per share.

The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $4.4 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $4.39 billion.

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For the year, the company reported profit of $1.25 billion, or $4.22 per share. Revenue was reported as $12.15 billion.

L Brands expects full-year earnings to be $3.90 to $4.10 per share.

L Brands shares have fallen 13 percent since the beginning of the year, while the Standard & Poor's 500 index has dropped almost 6 percent. In the final minutes of trading on Wednesday, shares hit $83.19, a decrease of 9 percent in the last 12 months.

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