L Brands Nine-week Comparable Sales Up 5%; Sees Q4 EPS Above View

(RTTNews) - L Brands Inc. (LB) reported that its comparable sales increased 5 percent for the nine weeks ended January 2, 2021, compared to a decline of 3 percent in the previous year.

Net sales for the nine weeks ended January 2, 2021 were $3.836 billion, down from $3.906 billion in the nine weeks ended January 4, 2020.

At Bath & Body Works, comparable sales increased 17 percent for the nine weeks ended January 2, 2021, including a comparable sales increase of 5 percent in stores and 64 percent sales growth in the direct channel.

At Victoria's Secret, comparable sales decreased 9 percent for the nine weeks ended January 2, 2021, including a comparable sales decrease of 23 percent in stores and 24 percent sales growth in the direct channel.

The company currently expects fourth quarter earnings per share to be between $2.70 and $2.80. Analysts polled by Thomson Reuters expect the company to report earnings of $1.96 per share for the fourth-quarter. Analysts' estimates typically exclude special items.