L Brands Posts Upbeat Q1 Earnings, But Issues Weak Q2 Forecast

L Brands Inc (NYSE: LB) reported better-than-expected earnings for the first quarter, but the company issued a weak forecast for the current quarter. However, the company lifted its earnings forecast for the full year.The Columbus, Ohio-based company posted quarterly net earnings of $250.5 million, or $0.84 per share, compared to $157 million, or $0.53 per share, in the year-ago period. Excluding non-recurring items, the company's adjusted earnings rose to $0.61 per share from $0.53 per share. Its total sales gained 5 percent to $2.51 billion. However, analysts were expecting earnings of $0.60 per share on revenue of $2.54 billion.The average estimate among 9 Estimize users was for earnings of $0.61 per share and revenue of $2.53 billion.Its same-store sales rose 5 percent in the quarter. The company's operating income climbed 11 percent to $371.8 million in the first quarter, from $336.1 million last year.For the second quarter, L Brands expects earnings of $0.60 to $0.65 per share, versus analysts' estimates of $0.69 per share. The company lifted its full-year earnings forecast to $3.50 to $3.70 per share, versus earlier forecast of $3.45 to $3.65 per share.L Brands shares fell 1.07 percent to $87.75 in the after-hours trading session.