Skip to main content

L Brands (LB) jumped in trading Thursday after the parent company of Victoria's Secret and Bath & Body Works posted first-quarter earnings that surprised Wall Street and lifted the low end of its earnings guidance for the fiscal year.

Earnings in the quarter were 14 cents a share vs. a break-even result expected by analysts. Sales of $2.63 billion topped forecasts of $2.6 billion. Same-store sales at Victoria's Secret declined 5% but jumped 13% at the company's Bath & Body Works outlets.

L Brands said it expects fiscal-year earnings of between $2.30 and $2.60 a share, vs. its previous guidance of $2.20 to $2.60.

The stock rose 7% to $23 on Thursday.

Scroll to Continue

TheStreet Recommends

L Brands bucked the trend this week of disappointing earnings from retailers such as Nordstrom (JWN) , Kohl's (KSS) and J.C. Penney (JCP) .