L Brands July Comps. Up 2%; Sees Q2 Adj. EPS At High End Of Prior Range

(RTTNews) - L Brands Inc. (LB) reported that its comparable sales increased 2 percent for the four weeks ended July 30, 2016. Net sales of $777.0 million for the four weeks ended July 30, 2016, an increase of 2 percent, compared to net sales of $759.5 million for the four weeks ended August 1, 2015.

The company reported net sales of $2.890 billion for the 13 weeks ended July 30, 2016, an increase of 5 percent compared to sales of $2.765 billion for the 13 weeks ended August 1, 2015. The company reported a comparable sales increase of 3 percent for the 13 weeks ended July 30, 2016.

The company reported net sales of $5.504 billion for the 26 weeks ended July 30, 2016, an increase of 4 percent compared to sales of $5.277 billion for the 26 weeks ended August 1, 2015. Comparable sales increased 3 percent for the 26 weeks ended July 30, 2016.

The company stated that it expects to report adjusted second quarter earnings per share at the high end of its previous guidance range of $0.50 to $0.60 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $0.57 per share for the second-quarter. Analysts' estimates typically exclude special items.