L Brands reports net sales increase of 7 percent in Q3

REPORT_ Earnings at L Brands per share for the third quarter ended November 1, 2014, increased 42 percent to a record 0.44 dollars compared to 0.31 dollars for the quarter ended November 2, 2013. The company reported net sales of 2.319 billion dollars for the third quarter, an increase of 7 percent compared to sales of 2.171 billion dollars for the quarter ended November 2, 2013.

The company reported a comparable store sales increase of 5 percent for the quarter under review. Third quarter operating income increased 35 percent to 284.1 million dollars compared to 211 million dollars last year, and net income was 131.8 million dollars compared to 92 million dollars last year.

The company stated that it expects 2014 fourth quarter earnings per share to be 1.61 dollars to 1.71 dollars, which is consistent with its previous guidance. The company raised its full-year earnings forecast to 3.21 dollars to 3.31 dollars per share from 3.03 dollars to 3.18 dollars previously, which includes the previously announced estimated full-year negative impact of about 0.10 dollars to 0.12 dollars related to the exit of certain non-core categories in the Victoria's Secret direct and beauty businesses.