Shares of L Brands (NYSE: LB), the parent company of America’s largest retailer of women’s lingerie Victoria Secret along with domestic merchandise retail stores Bed Bath & Beyond, surged on Thursday after the company announced better than expected EPS of $0.87 compared to $0.68 compared to last year. Second quarter operating income increased 1% to$408.2 million compared to $402.9 million last year, and net income was $252.4 million compared to $202.5 million last year.
Comparable sales up 3%. This is considerably a great sign especially competing in retail.
The Company stated that it expects 2016 third quarter earnings per share to be $0.40 to $0.45. It expects to report full-year earnings per share between $3.79 and $3.94, which includes a net$0.09 per share from year-to-date significant items as detailed in the attached reconciliation of reported to adjusted results. Excluding these items, the company expects to report full-year adjusted earnings per share between $3.70 and $3.85, versus its previous guidance of $3.60 to $3.80.
The stock gained 5 percent on the day. Year-to-date though, the company's stock is still down 18 percent.