L Brands Q2 Profit Tops Estimate; Boosts FY14 EPS Outlook

(RTTNews) - L Brands, Inc. (LB) reported net income for the second quarter of $188.4 million or $0.63 per share, compared to $179.0 million or $0.61 per share for the year-ago quarter.

Net sales for the second quarter rose 6% to $2.68 billion from $2.52 billion a year ago. The company reported a same-store sales increase of 3% for the 13 weeks ended Aug. 2, 2014.

Analysts polled by Thomson Reuters expected the company to earn $0.62 per share on revenue of $2.65 billion for the second quarter.

Looking forward, the company forecast third quarter earnings per share to be $0.26 to $0.31, and raised its full-year earnings forecast to $3.03 to $3.18 per share from its prior forecast of $3.00 to $3.15 per share.

Analysts currently expect the company to earn $0.30 per share for the third quarter and $3.17 per share for the fiscal year 2014.