L Brands (LB) July Comps Rose 6%; Sees Q2 EPS at High-End of Outlook
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L Brands (NYSE: LB) reported net sales of $735.3 million for the four weeks ended Aug. 2, 2014, an increase of 8 percent, compared to net sales of $678.4 million for the four weeks ended Aug. 3, 2013. Comparable store sales increased 6 percent for the four weeks ended Aug. 2, 2014.
The company reported net sales of $2.675 billion for the 13 weeks ended Aug. 2, 2014, an increase of 6 percent compared to sales of $2.516 billion for the 13 weeks ended Aug. 3, 2013. The company reported a comparable store sales increase of 3 percent for the 13 weeks ended Aug. 2, 2014.
The company reported net sales of $5.067 billion for the 26 weeks ended Aug. 2, 2014, an increase of 6 percent compared to sales of $4.784 billion for the 26 weeks ended Aug. 3, 2013. Comparable store sales increased 3 percent for the 26 weeks ended Aug. 2, 2014.
The company commented that it expects to report second quarter earnings at the high end of its previous guidance of $0.57 to $0.62 per share. This estimate includes a charge for severance of approximately $0.02 per share, which was not included in the previous guidance.
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