L Brands Raises Outlook
August 19 2015 - 4:32PM
Dow Jones News
By Lisa Beilfuss And Tess Stynes
L Brands Inc. again raised its per-share earnings guidance for
the year as the company reported earnings rose 7.5% on continued
sales growth and stronger margins in the latest quarter.
For the year ending in January, the owner of brands including
Victoria's Secret and Bath & Body Works now expects per-share
earnings of $3.58 to $3.73, compared with its recently increased
estimate for per-share profit of $3.50 to $3.70.
However for the current quarter, the company forecast per-share
earnings of 40 cents to 45 cents, below estimates of analysts
polled by Thomson Reuters for per-share profit of 47 cents.
The Ohio-based company has been a relative bright spot in a
retail industry that has faced challenges from a highly promotional
environment. For L Brands, well-managed inventories have helped the
retailer avoid the markdowns that have plagued many peers.
For the quarter ended Aug. 1, the retailer's gross margin rose
to 40.3% from 39%.
Overall, L Brands reported a profit of $202.5 million, up from
$188.4 million a year earlier. Per-share earnings rose to 68 cents
from 63 cents.
The company expected per-share earnings of 66 cents to 68
cents.
L Brands recently prereported that revenue rose 3.4% to $2.77
billion, while sales at stores open at least a year increased
4%.
At Victoria's Secret, which generates the bulk of the company's
revenue, sales at established stores grew 3%, while sales at Bath
& Body Works improved 5%.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com and Tess Stynes
at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 19, 2015 17:17 ET (21:17 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
LandBridge (NYSE:LB)
Historical Stock Chart
From Jun 2024 to Jul 2024
LandBridge (NYSE:LB)
Historical Stock Chart
From Jul 2023 to Jul 2024