By Tess Stynes
L Brands Inc. (LTD) expects its fiscal third-quarter earnings to
come in at the high end of its previous guidance as the retailer
posted stronger-than-expected same-store sales for October.
L Brands, which includes Victoria's Secret and Bath & Body
Works, dominates the intimate-apparel and personal-care markets,
though growth for the company's major store formats in the first
half of the current fiscal year slowed.
The company previously forecast per-share earnings of 23 cents
to 28 cents for the quarter ended Saturday. It expects net sales of
$2.171 billion, while analysts polled by Thomson Reuters projected
$2.15 billion.
Though retailers have broadly been stung by weak mall traffic
and high promotions, some observers say L Brands, formerly called
Limited Brands Inc., has maintained growth by winning over
customers with new products.
For October, L Brands same-store sales grew 8%, while analysts
expected an increase of 2.2%
The company plans to release its third-quarter financial results
Nov. 21.
Shares were up 1.5% at $64 in recent premarket trading. Through
Wednesday's close, the stock is up 34% this year.
Write to Tess Stynes at tess.stynes@wsj.com
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