L Brands Oct. Comps. Rise 3% - Quick Facts

(RTTNews) - Women's apparel retailer L Brands Inc. (LB) said its comparable-store sales increased by 3 percent for the four weeks ended Nov. 1, 2014. The firm clocked net sales of $700.0 million in October 2014, up 3 percent, compared with $680.5 million last year.

For the 13-week period, net sales of $2.32 billion rose by 7 percent from $2.17 billion for the 13 weeks ended Nov. 2, 2013. Comparable-store sales increased 5 percent for the 13 weeks to November 1, 2014.

As announced earlier, the company now sees third-quarter earnings per share between $0.38 and $0.40, versus its prior guidance of $0.26 to $0.31.

Further, the company and certain of its affiliates have agreed to sell all of its remaining stake in MGF Sourcing Holdings to Sycamore Partners for $85 million. The sale may close in the first quarter of 2015. MGF Sourcing Holdings owns and operates the third-party sourcing business in which the company sold a majority stake in October of 2011.