L Brands Posts Q2 Beat; Raises FY Outlook
L Brands (NYSE: LB) moved slightly higher in the extended session after the company beat second-quarter expectations by a small margin and raised its outlook for 2014.
Same-store sales grew three percent at both its Victoria's Secret, Bath & Bodyworks segments.
Victoria's Secret sales grew 4.8 percent to $1.75 billion and Bath & Bodyworks grew 5.5 percent to $704.7 million.
The company forecast third-quarter earnings of between $0.26 and $0.31 a share versus the Wall Street consensus of $0.30 a share.
For fiscal 2014, L Brands raised its estimate to between $3.03 and $3.18 a share from $3.00 to $3.15 previously. Analysts expected $3.17 a share.
In the recent second-quarter, earnings grew 5.3 percent to $188.5 million or $0.63 cents a share, from $178.9 million or $0.61 a share. Sales grew 6.3 percent to $2.68 billion from $2.52 billion.
Analysts expected $0.62 cents a share on sales of $2.65 billion.
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