COLUMBUS, Ohio – L Brands, owner of Victoria’s Secret, Bath & Body Works and other retail outlets, said Thursday that sales at stores open at least a year climbed 8 per cent in October. This easily topped analysts’ estimates.
Analysts polled by Thomson Reuters expected a 2.2 per cent rise. The metric is a widely followed gauge of retailers’ health.
L Brands Inc., formerly known as Limited Brands Inc., said revenue for the four weeks ended Nov. 2 increased 11 per cent to $680.5 million from $611 million.
The retailer also announced it now anticipates third-quarter earnings at the high end of its prior forecast of 23 cents to 28 cents per share. Analysts polled by FactSet predict earnings of 27 cents per share.
Its shares rose 2 per cent to $64.30 in premarket trading.