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L Brands Meets Third Quarter Profit Forecasts

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $2.62 billion in the period, which beat Wall Street forecasts.
Victoria's Secret
Victoria's Secret | Source: Shutterstock (Shutterstock)
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  • Associated Press

COLUMBUS, United States — L Brands Inc. (LB) on Wednesday reported fiscal third-quarter earnings of $86 million.

The Columbus, Ohio-based company said it had net income of 30 cents per share.

The results met Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was also for earnings of 30 cents per share.

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $2.62 billion in the period, which beat Street forecasts. Eight analysts surveyed by Zacks expected $2.61 billion.

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L Brands expects full-year earnings to be $3.05 to $3.20 per share.

L Brands shares have declined 25 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 15 percent. In the final minutes of trading on Wednesday, shares hit $49.21, a drop of 28 percent in the last 12 months.

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