COLUMBUS, United States — L Brands, which owns Victoria’s Secret as well as Bath and Body Works, said that revenue at stores open at least a year rose 3 percent in July, better than expected, and the company raised its earnings guidance for the second quarter.
Analysts surveyed by Thomson Reuters expected a 1.5 percent increase for the four weeks ended Aug 3.
The figure rose 2 percent at Victoria’s Secret, 6 percent at Bath & Body Works and 9 percent at La Senza lingerie stores.
That’s a key gauge of a retailer’s health because it excludes volatility from stores recently opened or closed.
L Brands Inc., which was formerly known as Limited Brands, said Thursday that total revenue for the month rose 4 percent to $678.4 million from $649.8 million in the year ago period.
For the quarter, the Columbus, Ohio, company’s revenue at stores open at least a year rose 2 percent. Total revenue rose 5 percent to $2.52 billion. Analysts expected $2.49 billion, according to FactSet.
L Brands now expects net income for the second quarter to total 60 cents per share, up from prior guidance of 50 cents to 55 cents per share. Analysts expect 54 cents per share.
L Brands also owns the brands Pink, Henri Bendel and La Senza. It has 2,616 stores in the U.S. and its brands are sold in more than 700 company-run and franchised locations worldwide.
L Brands also declared its regular quarterly dividend of 30 cents per share, payable on Sept. 6 to shareholders of record as of Aug. 23.