L Brands Sees 3rd-Quarter Profit at High End of Prior View

   By Tess Stynes 
 

L Brands Inc. (LTD) expects its fiscal third-quarter earnings to come in at the high end of its previous guidance as the retailer posted stronger-than-expected same-store sales for October.

L Brands, which includes Victoria's Secret and Bath & Body Works, 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.

The company previously forecast per-share earnings of 23 cents to 28 cents for the quarter ended Saturday. It expects net sales of $2.171 billion, while analysts polled by Thomson Reuters projected $2.15 billion.

Though retailers have broadly been stung by weak mall traffic and high promotions, some observers say L Brands, formerly called Limited Brands Inc., has maintained growth by winning over customers with new products.

For October, L Brands same-store sales grew 8%, while analysts expected an increase of 2.2%

The company plans to release its third-quarter financial results Nov. 21.

Shares were up 1.5% at $64 in recent premarket trading. Through Wednesday's close, the stock is up 34% this year.

Write to Tess Stynes at [e-mail]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires