Stock Alert: L Brands Hits New 52-week High On Holiday Sales, Q4 Earnings Outlook

(RTTNews) - Shares of L Brands, Inc. (LB) are adding almost 3 percent or $1.32 in Friday's morning trade at $47.49, after touching a new 52-week high of $47.77.

Thursday, L Brands reported that its comparable sales for the nine weeks ended January 2, 2021 increased 5 percent, compared to a 3 percent decline in the previous year. However, net sales for the nine-month period declined to $3.84 billion from $3.91 billion in the nine weeks ended January 4, 2020.

For the fourth quarter, L Brands now forecasts earnings per share between $2.70 and $2.80. Analysts polled by Thomson Reuters have a consensus estimate of $1.96 per share for the quarter. The specialty retailer plans to report fourth-quarter earnings results on February 24, 2021.

L Brands has traded in a range of $8.00 to $47.77 in the past 52 weeks.