NEW YORK (TheStreet) --Shares of L Brands  (LB) - Get Report are down by 2.5% to $81.11 in pre-market trading Thursday morning, continuing a decline that started in after-hours trading on Wednesday, following the company's latest earnings.

The parent company of Victoria's Secret and Bath & Body Works posted better than expected results for the 2015 fourth quarter, but the company's full year 2016 outlook was below analysts' forecasts.

For the full year the company is anticipating earnings between $3.90 and $4.10 per share, while analysts are expecting earnings of $4.20 per share.

L Brands reported 2015 fourth quarter earnings of $2.15 per share on revenue of $4.39 billion. Analysts were expecting earnings of $2.05 per share on revenue of $4.37 billion.

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"We delivered record results in a year when many retailers struggled. These results are a reflection of the strength of our brands and were driven by tremendous focus and execution across the enterprise. I am very optimistic heading into 2016 and confident in our growth opportunities," company CEO Leslie H. Wexner said in a statement.

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