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Victoria's Secret Owner L Brands Tops First Quarter Forecasts

L Brands Inc. on Wednesday reported fiscal first-quarter earnings of $94.1 million.
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By
  • Associated Press

COLUMBUS, United States — L Brands Inc. on Wednesday reported fiscal first-quarter earnings of $94.1 million.

The Columbus, Ohio-based company said it had profit of 33 cents per share.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $2.44 billion in the period, meeting Street forecasts.

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L Brands expects full-year earnings to be $3.10 to $3.40 per share.

L Brands shares have decreased 26 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 5 percent. In the final minutes of trading on Wednesday, shares hit $48.40, a decrease of 26 percent in the last 12 months.

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