L Brands Projects Higher Third-Quarter Profit
November 02 2015 - 5:55PM
Dow Jones News
By Maria Armental
L Brands Inc., the parent company of such brands as Victoria's
Secret and Bath & Body Works, on Monday said third-quarter
profit will be better than anticipated.
The Ohio-based company, which also released some key sales
figures for October, said it now expects to make 51 cents to 53
cents a share, compared with its earlier view of 40 cents to 45
cents a share. In the year-ago period, it made 44 cents a
share.
L Brands, scheduled to report third-quarter results on Nov. 18,
is to hold its annual investor update meeting on Nov. 3.
On Monday, it said based on preliminary figures, sales at stores
open for at least a year rose 5% in October, compared with the year
earlier. L Brands had reported a 9% increase in comparable sales in
September and 6% in August.
In October, Victoria's Secret and Bath & Body Works' each
reported a 5% increase in sales at established stores, the company
said. Sales at Victoria's Secret Direct, which aren't included in
comparable sales, rose 7%, the company said.
Shares, up 11% this year, rose 1.9% in late trading to $98.31,
topping the company's 52-week-high of $97.93 set on Oct. 23 during
regular trading.
Write to Maria Armental at maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 02, 2015 18:40 ET (23:40 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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