NEW YORK (TheStreet) -- L Brands (LB) shares are up 3.3% to $61.14 on Thursday after the company reported strong July sales that its expects to push second quarter earnings towards the high end of its previous guidance of between 57 cents and 62 cents per diluted share.
The Victoria's Secrets and Bath & Body Works retail operator reported that same store sales rose by 6% in July, well ahead of Thomson Reuters analyst estimates of a 1.8% gain.
L Brands is set to release its earnings report on August 21.
TheStreet Ratings team rates L BRANDS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate L BRANDS INC (LB) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share and increase in net income. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year."
Highlights from the analysis by TheStreet Ratings Team goes as follows: