Shares of Victoria’s Secret owner rose more than 6 percent on Friday after boosting the company’s financial outlook for the second time in two weeks.
L Brands said the lingerie giant and the “improvement in sales trends” in the “bath and body works chain” made it 55 cents to 65 centimeters per share with its first-quarter earnings of between 85 cents to $ 1 Convinced to increase the guidance.
The Columbus, Ohio-based company first gave its guidance on March 12 when it stated that “strong sales and margin results quarter-to-date.”
This time, L Brands stated that “unusual changes in consumer spending patterns, as a result of government incentive payments, COVID-19 waivers of restrictions and other factors” are stronger than the expected quarter.
During the epidemic, Bath and Body Works have been among the companies that have benefited from the increasing demand for soaps, hand sanitizers and home fragrances – a demand that has not given up – while Victoria’s Secret plans a revenge The prizes have been withdrawn. .
“We see opportunities even further” to increase L Brands’ stock, Wells Fargo analyst Ike Borokov said in a Friday research note. “Operational improvements at Victoria’s Secret and continued execution at Bath & Body Works should position brands well to benefit from retail-friendly re-opening dynamics.”
L Brands is either preparing to sell Victoria’s Secret or may close it later this summer as The Post previously reported, while its billionaire founder Les Wexner stepped away from the company last week, a new management Handed the reins to the team.
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