Victoria's Secrets owner L Brands' second quarter results beat expectations

 
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L Brands opened seven new Victoria's Secrets stores in the US (Source: Getty)

Victoria's Secrets owner L Brands' shares jumped in after-hours trading after it shook off retail industry woes with rising sales and earnings.


The company, which also owns Pink and Bath & Body Works, reported comparable sales rose two per cent to $2.89bn in the second quarter ended 30 July.

During this period it opened seven new Victoria's Secrets stores in the US, as well as one in the UK.

The firm's adjusted earnings per share beat forecasts by rising three per cent to $0.70 in the second quarter, up from $0.68 a year earlier.

Operating income swelled one per cent to $408.2m during this period, while net income rose 24.64 per cent to $252.4m.


Its shares were up 4.28 per cent to $77.23 in after-market trading, however they're still down around 20 per cent year-to-date.

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