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March 26, 2021, 7:36 a.m. EDT

Victoria's Secret parent L Brands raises quarterly guidance as sales get boost from stimulus, easing of COVID restrictions

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By Ciara Linnane

Victoria's Secret parent L Brands Inc. /zigman2/quotes/202062875/composite LB +1.58% said Friday it is raising its first-quarter per-share earnings guidance to reflect improved sales trends that it expects are being driven by changes in consumer spending patterns stemming from government stimulus checks, a relaxation of COVID-19 restrictions on movement and other factors. The company, which also owns Bath & Body Works, said it now expects EPS to range from 85 cents to $1.00, up from prior guidance of 55 cents to 65 cents. The FactSet consensus is for EPS of 62 cents. "The environment remains uncertain, and there is no assurance that these improved trends will continue," the company said in a statement. Shares jumped 4.6% premarket on the news and are up 60% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.66% has gained 4%.

/zigman2/quotes/202062875/composite
US : U.S.: NYSE
$ 66.98
+1.04 +1.58%
Volume: 4.74M
May 7, 2021 12:47p
P/E Ratio
22.67
Dividend Yield
0.00%
Market Cap
$18.39 billion
Rev. per Employee
$128,353
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/zigman2/quotes/210599714/realtime
US : S&P US
4,229.48
+27.86 +0.66%
Volume: 952.08M
May 7, 2021 12:47p
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