L Brands Oct. key sales metric tops Street's view


Save Story
Leer en espaƱol

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

COLUMBUS, Ohio (AP) - 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 percent in October. This easily topped analysts' estimates.

Analysts polled by Thomson Reuters expected a 2.2 percent 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 percent 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 percent to $64.30 in premarket trading.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Most recent Business stories

Related topics

Business

STAY IN THE KNOW

Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

KSL Weather Forecast