The Columbus, OH-based company reported Q2 adjusted EPS of $0.70, easily topping Wall Street’s view of $0.60. Revenue rose 4.5% from last year to $2.89 billion, also beating estimates.
Looking ahead, LB forecast Q3 EPS to range from $0.40 to $0.45, which would miss analyst projections of $0.47. However, its full-year forecast was raised to $3.70-$3.85, which could exceed the consensus estimate of $3.75.
Other interesting notes from the report included:
- Total Q2 comparable sales rose 3% from last year.
- Q2 comps at Victoria’s Secret rose 1%.
- Q2 comps at Bath & Body Works rose 6%.
L Brands shares rose $3.17 (+4.28%) to $77.23 in aftermarket trading. Prior to today’s report, LB stock had fallen more than 22% year-to-date, so the improved numbers are definitely giving the stock a much-needed boost.