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Share Name | Share Symbol | Market | Type |
---|---|---|---|
LandBridge Company LLC | NYSE:LB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-1.62 | -5.20% | 29.54 | 32.09 | 29.34 | 31.16 | 161,067 | 17:54:45 |
By Anna Prior
L Brands Inc.'s (LTD) fiscal third-quarter profit rose 25% as the retailer continued to post higher sales, helped by improving same-store sales at its Victoria's Secret and Bath & Body Works units.
The company again raised its full-year view and now sees full-year profit between $3.07 and $3.22 a share, up from its August view of $3.06 and $3.21 a share.
However, L Brands projected fiscal fourth-quarter earnings of $1.67 to $1.82 a share, missing expectations for $1.83 a share from analysts surveyed by Thomson Reuters.
The company, formerly called Limited Brands Inc., dominates the intimate-apparel and personal-care markets, though growth for the company's major store formats in the first half of the current fiscal year slowed from year-ago levels.
Though retailers have broadly been stung by weak mall traffic and high promotions, some observers say L Brands has maintained growth by winning over customers with new products.
For the latest period, L Brands reported a profit of $92 million, or 31 cents a share, up from $73.4 million, or 25 cents a share, a year earlier. Prior-year results included a four cents-a-share charge tied to La Senza store closures, partially offset by a per-share three cent gain from cash distributions related to the company's Easton investments.
The company earlier this month said it expected earnings to come in at the high end of its August guidance of 23 cents to 28 cents a share.
Gross margin narrowed to 39.5% from 40.2%, as cost of goods sold rose 7.3% to $1.31 billion.
The company recently reported net sales rose 5.9% to $2.17 billion and same-store sales rose 3%. Same-store sales rose 4% at Victoria's Secret and 3% at Bath & Body Works.
Shares edged up seven cents to $64.48 in after-hours trading. Through Wednesday's close, the stock has risen 37% since the start of the year.
Write to Anna Prior at anna.prior@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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