Victoria's Secret owner L Brands shares jump on raised profit outlook

Pedestrians wearing protective masks carry Victoria’s Secret Stores LLC shopping bags in San Francisco, California, U.S., on Wednesday...


Pedestrians wearing protective masks carry Victoria’s Secret Stores LLC shopping bags in San Francisco, California, U.S., on Wednesday, Feb. 17, 2021.

David Paul Morris | Bloomberg | Getty Images

Victoria’s Secret-owner L Brands raised its profit outlook for the first quarter on Friday, citing a boost from government stimulus and from loosened Covid-related restrictions.

Its stock jumped more than 5.5% in early trading.

The company now expects an adjusted profit of 85 cents to $1 per share, compared with its previous forecast of 55 cents to 65 cents.

L Brands, which also owns Bath & Body Works, said it has seen “unusual shifts in consumer spending patterns,” which have led to boosted sales.

Still, it cautioned that the retail environment “remains uncertain, and there is no assurance that these improved trends will continue.”

L Brands already raised its profit outlook for the quarter earlier this month, citing strong demand for Bath & Body Works and Victoria’s Secret.

The retailer’s stock is up nearly 60% year to date. It has a market cap of $16.6 billion.

Source link

COMMENTS

Name

Africa,778,Americas,4049,Art & Culture,14516,Arts,6389,Arts & Design,1574,Asia,3169,Automobile,448,Baseball,554,Basketball,453,Books,3781,Business,5224,Celebrity,2633,Cricket,648,Crime,158,Cryptocurrency,1446,Dance,630,Defense,836,Diplomatic Relations,2496,Economy,1064,Editorial,260,Education,1162,Elections,308,Energy & Environment,3042,Entertainment,22383,Environment,3524,Europe,4117,Faith & Religion,235,Family & Life,817,Fashion & Style,3145,Finance,19477,Food & Drink,3634,Football,1068,Games,97,Gossip,10289,Health & Fitness,3973,Health Care,925,Hockey,215,Home & Garden,920,Humour,994,Latin America,49,Lifestyle,16627,Media,527,Middle East,1449,Movies,1618,Music,2541,Opinion,2833,Other,11611,Other Sports,4926,Political News,11324,Political Protests,2324,Politics,17534,Real Estate,1746,Relationship,78,Retail,3116,Science,2533,Science & Tech,9703,Soccer,197,Space & Cosmos,318,Sports,11846,Technology,3328,Tennis,540,Theater,1612,Transportation,313,Travel,2489,TV,3583,US,13,US Sports,1481,Video News,3531,War & Conflict,1069,Weird News,998,World,15971,
ltr
item
Newsrust - US Top News: Victoria's Secret owner L Brands shares jump on raised profit outlook
Victoria's Secret owner L Brands shares jump on raised profit outlook
https://image.cnbcfm.com/api/v1/image/106842202-1613661433321-gettyimages-1231238677-RETAIL_ECONOMY.jpeg?v=1616759534
Newsrust - US Top News
https://www.newsrust.com/2021/03/victorias-secret-owner-l-brands-shares.html
https://www.newsrust.com/
https://www.newsrust.com/
https://www.newsrust.com/2021/03/victorias-secret-owner-l-brands-shares.html
true
732247599994189300
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content