L Brands Reports Growth in the Third Quarter

L Brands has reported that its earnings per share for the third quarter ended Nov. 1, 2014, increased 42 percent to a record $0.44 compared to $0.31 for the quarter ended Nov. 2, 2013.

Third quarter operating income increased 35 percent to $284.1 million compared to $211.0 million last year, and net income was $131.8 million compared to $92.0 million last year.
 
The company reported net sales of $2.319 billion for the third quarter ended Nov. 1, 2014, an increase of 7 percent compared to sales of $2.171 billion for the quarter ended Nov. 2, 2013. 

The company expects 2014 fourth quarter earnings per share to be $1.61 to $1.71, and raised its full-year earnings forecast to $3.21 to $3.31 per share from $3.03 to $3.18.

This includes the previously announced estimated full-year negative impact of about $0.10 to $0.12, related to the exit of certain non-core categories in the Victoria’s Secret direct and beauty businesses to allow the brand to focus on faster growing, more profitable product lines.