L Brands (LB) Sees Oct. Comps up 5%; Boosts Q3 EPS View

L Brands (NYSE: LB) reported estimated October comparable store sales and raised guidance for third quarter earnings. The company is making this updated information available in advance of its previously announced Investor Update Meeting on Nov. 3.

October comparable store sales are expected to be up 5%, including an expected 5% comp at Victoria’s Secret Stores, and 5% at Bath & Body Works. Total sales at Victoria’s Secret Direct, which are not included in comparable store sales, are estimated to be up about 7%.

The company now expects third quarter earnings per share between $0.51 and $0.53, versus its previous guidance of $0.40 to $0.45 and last year’s result of $0.44. The company will provide final third quarter results and fourth quarter earnings guidance when it reports third quarter earnings on Nov. 18.

*** The Street sees Q3 EPS of $0.48.

As announced last week, the Investor Update Meeting will be video webcast live from noon to 3 p.m. ET Nov. 3 on www.LB.com, and accessible via phone (listen only) by dialing 1-877-617-5532 (international callers dial 1-234-386-2885). Please reference the “L Brands Annual Investor Update Meeting” or conference ID 68045265 to access the call. An archive of the webcast will be available on www.LB.com as soon as possible following the live event.

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