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L Brands Jan. Comps Up 7%, Now Sees Higher Than Expected Earnings In Q4

L Brands Inc. (LB) Thursday reported January net sales of $1.040 billion for the five-week period ended Feb. 3, up from sales of $805.2 million for the four-week period ended Jan. 28 last year. The fifth week in January represented approximately $150 million in sales and $0.07 in earnings per share.

Comparable sales for the five-week period increased seven percent to comparable period last year.

For the fourth quarter, L Brand's net sales were $4.823 billion, slightly up from $4.489 billion for the last year. Comparable sales for the fourth quarter increased 2 percent from the previous year period. Wall Street expected $4.72 billion.

Further, the company said it expects quarter earnings per share of about $2.05, before the effect of any significant items and considering reduced Earlier the company was looking for earnings of about $2.00.

by RTT Staff Writer

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