L Brands April Comps Down 1% On Earlier Easter, Raises Q1 Outlook

(RTTNews) - L Brands, Inc. (LB) Thursday announced one percent decline in April comparable sales as the four week period was impacted by the earlier Easter, by around 5 points. For the period, net sales increased one percent to $724.6 million from $717.6 million in the previous year.

For the 13-week period, comparable store sales was up 5 percent and net sales climbed 5 percent to $1.512 billion from $2.391 billion.

For the first quarter, the company raised its adjusted earnings outlook to a range of $0.58 to $0.60 per share, while its prior projection was in a range of $0.50 to $0.55 per share. On average, 34 analysts polled by Thomson Reuters expects $0.58 per share on revenue of $2.54 billion.