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Jan. 7, 2021, 7:26 a.m. EST

Victoria's Secret parent L Brands offers upbeat EPS guidance after holiday sales beat its expectations

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By Ciara Linnane

Shares of Victoria's Secret parent L Brands Inc. /zigman2/quotes/202062875/composite LB +4.39% rose 3.2% in premarket trade Thursday before surrendering those gains, after the company said holiday sales exceeded its expectations and offered consensus-beating guidance for fourth-quarter per-share earnings. The company said it chalked up sales of $3.836 billion over the nine-week holiday period through Jan. 2, while same-store sales rose 5%. At Victoria's Secret, same-store sales fell 9%, while at Bath & Body Works, same-store sales were up 17%. The company is now expecting fourth-quarter EPS to range from $2.70 to $2.80, well ahead of the FactSet consensus for $1.97. "We are very pleased with our Holiday results, which significantly exceeded our initial expectations, driven by an increase in profitability at both Bath & Body Works and Victoria's Secret," Chief Executive Andrew Meslow said in a statement. The company is scheduled to report fourth-quarter earnings on Feb . 24. Shares have gained 142% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.48% has gained 15%.

/zigman2/quotes/202062875/composite
US : U.S.: NYSE
$ 54.66
+2.30 +4.39%
Volume: 5.50M
Feb. 26, 2021 4:03p
P/E Ratio
18.51
Dividend Yield
0.00%
Market Cap
$15.20 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,811.15
-18.19 -0.48%
Volume: 3.12B
Feb. 26, 2021 5:04p
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