L Brands April Comps Rises 1%

L Brands, Inc. LB reported that its comparable store sales witnessed 1 percent growth in April. The net sales also grew 2 percent to $737.5 million for the four weeks ended April 30 from $724.6 million in the four weeks ended May last year.

For the first quarter, L Brands delivered net sales of $2.614 billion for, up 4 percent from $2.512 billion in the previous year quarter. The company's comparable sales witnessed 3 percent growth over the same period last year.

As a result, the company indicated that it expects to report adjusted first quarter earnings per share at the high end of its previous guidance of $0.50 to $0.55. Street analysts expect the company to earn $0.58 a share and deliver revenue of $2.67 billion.

On Wednesday, the stock traded 1.29 percent up.