L Brands Beats Street 2Q Forecasts

MarketsAssociated Press

L Brands Inc. ((NYSE:LB) on Wednesday reported fiscal second-quarter profit of $188.4 million.

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The Columbus, Ohio-based company said it had profit of 63 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $2.68 billion in the period, which also beat Street forecasts. Analysts expected $2.66 billion, according to Zacks.

L Brands shares have climbed nearly 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.5 percent. At the close of trading on Wednesday, shares were trading at $62.98, a rise of nearly 4 percent in the last 12 months.