LB - Why L Brands Briefly Popped This Morning
Shares of L Brands (NYSE: LB) briefly popped by as much as 11% this morning after the company reported fourth-quarter earnings. The company crushed profit expectations and comparable store sales jumped.
Revenue in the fourth quarter came in at $4.82 billion, slightly shy of the consensus estimate of $4.85 billion. That resulted in earnings per share of $3.03, a strong beat compared to the $2.11 per share in profits that analysts were expecting. The consumer discretionary company , which is the parent to the Bath & Body Works and Victoria's Secret brands, said comparable store sales increased by 10%. Comps at Bath & Body Works jumped 22% while declining 3% at Victoria's Secret.
Image source: L Brands.
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Why L Brands Briefly Popped This Morning