Victoria's Secret parent L Brands Dec. same-store sales flat vs. year-ago period
Victoria's Secret parent L Brands Inc. said Thursday same-store sales were flat in December compared with the year-earlier period. Net sales edged down to $2.477 billion from $2.516 billion. For the 47 weeks ended Jan. 5, same-store sales rose 3%, while net sales rose to $12.457 billion from $11.592 billion a year ago. The retailer is now expecting full-year adjusted per-share earnings to come in toward the high end of its $1.90 to $2.10 range, excluding a pretax charge related to the sale of La Senza of about $80 million, or 15 cents per share. Shares rose 1.6% premarket, but are down 41.6% in the last 12 months, while the S&P 500 has fallen 5.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.