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L Brands Reports Higher-Than-Expected In-Store Sales and Earnings

Investors are betting that the Victoria’s Secret owner has turned a corner.

Cathaleen Chen

24 February 2021

Shares of the Victoria’s Secret and Bath & Body Works parent company rose in after-hours trading following its fourth quarter earnings report, in which the retailer beat analyst projections.

L Brands’ overall fourth-quarter revenue totaled $4.82 billion, an increase from $4.71 billion in the year prior. Same-store sales for the quarter increased 10 percent overall, reflecting a 22 percent increase for Bath & Body Works and a 3 percent decline for Victoria’s Secret. The mall retail company also beat predictions on earnings per share.

According to a recent New York Times report, L Brands is continuing its search for a new owner for Victoria’s Secret after a deal with private equity firm Sycamore Partners fell apart last year.

About the author

Cathaleen Chen

Cathaleen Chen is Retail Correspondent at The Business of Fashion. She is based in New York and drives BoF’s coverage of the retail and direct-to-consumer sectors.

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