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L Brands Tops 3Q Profit Forecasts

L Brands Inc. on Wednesday reported fiscal third-quarter net income of $164 million. The results surpassed Wall Street expectations.

Associated Press

18 November 2015

COLUMBUS, Ohio — L Brands Inc. on Wednesday reported fiscal third-quarter net income of $164 million.

On a per-share basis, the Columbus, Ohio-based company said it had net income of 55 cents.

The results surpassed Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $2.48 billion in the period, which did not meet Street forecasts. Eleven analysts surveyed by Zacks expected $2.5 billion.

L Brands expects full-year earnings in the range of $3.69 to $3.79 per share.

L Brands shares have increased nearly 7 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 1 percent. In the final minutes of trading on Wednesday, shares hit $92.23, an increase of 19 percent in the last 12 months.

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Columbus, United States

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