L Brands April Comps. Flat; Sees Q1 Earnings At Lower End Of Range

(RTTNews) - L Brands, Inc. (LB) reported that its net sales for the four weeks ended May 5, 2018 rose 4 percent to $751.6 million from $719.6 million for the four weeks ended April 29, 2017.

Comparable sales for the four weeks ended May 5, 2018, were flat compared to the four weeks ended May 6, 2017, and were negatively impacted by the earlier Easter holiday this year by about 3 percentage points.

The company reported net sales of $2.63 billion for the first quarter ended May 5, 2018, up 8 percent from $2.44 billion in the year-ago period. Comparable sales for the quarter increased 3 percent.

The company said it expects to report first-quarter earnings per share at the lower end of its previous guidance range of $0.15 to $0.20.

On average, analysts polled by Thomson Reuters expect the company to earn $0.18 per share for the quarter on revenues of $2.59 billion. Analysts' estimates typically exclude special items.