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Nov. 20, 2019, 4:41 p.m. EST

Victoria's Secret parent L Brand stock rallies after Q3 results, guidance

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By Claudia Assis

L Brands Inc. shares rose nearly 5% in the extended session Wednesday after the parent company of Victoria's Secret and Bath & Body Works reported adjusted third-quarter earnings and sales in line with expectations. L Brands said it lost $252 million, or 91 cents a share, in the quarter, compared with a loss of $43 million, or 16 cents a share, in the year-ago quarter. Adjusted for one-time items, L Brands earned 2 cents a share, compared with 16 cents a share a year ago. Sales fell to $2.68 billion from $2.78 billion a year ago. Comparable-store sales fell 2%, the company said. Analysts polled by FactSet had expected adjusted earnings of 2 cents a share on sales of $2.69 billion for the company. L Brands said it expects fourth-quarter per-share earnings around $2, which would result in full-year adjusted EPS around $2.40, it said. That compares with a previous full-year guidance between $2.30 a share and $2.60 a share. Shares of L Brands ended the regular trading day down 7.5%.

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