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L Brands Tops Second Quarter Forecasts

L Brands reported fiscal second-quarter net income of $252.4 million.
Source: Victoria's Secret
By
  • Associated Press

COLUMBUS, United States — L Brands Inc. on Wednesday reported fiscal second-quarter net income of $252.4 million.

The Columbus, Ohio-based company said it had profit of 87 cents per share. Earnings, adjusted for non-recurring gains, were 70 cents per share.

The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $2.89 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $2.87 billion.

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L Brands expects full-year earnings in the range of $3.70 to $3.85 per share.

L Brands shares have declined 23 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 7 percent. In the final minutes of trading on Wednesday, shares hit $74.06, a drop of 9 percent in the last 12 months.

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