L Brands key sales metric rises 8 pct. in November, handily beats Wall Street's expectations
L Brands, whose brands include Victoria's Secret, Bath & Body Works and others, said Thursday that sales at stores open at least a year rose 8 percent in November. This easily topped analysts' estimates.
Analysts surveyed by Thomson Reuters predicted a 4.6 percent increase in the figure.
Sales at stores open at least a year is a key indicator of a retailer's health because it excludes results from stores recently opened or closed.
Total sales for the four weeks ended Nov. 29 climbed 9 percent to $1.08 billion.
For the year to date, L Brands Inc. said that sales at stores open at least a year increased 4 percent. Total sales rose 7 percent to $8.46 billion.
L Brands is based in Columbus, Ohio. Its other brands include Pink, La Senza and Henri Bendel. The company runs 2,975 company-owned specialty stores in the U.S., Canada and the U.K. Its brands are also sold in about 600 additional franchised locations worldwide.