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L Brands December Comps. Flat; Sees Q4 Adj. Earnings Towards High End Of Range

L Brands, Inc. (LB) on Thursday reported a decrease in net sales for the month of December 2018, while comparable sales were flat.

The company's net sales for the five weeks ended January 5, 2019 were $2.48 billion, down from $2.52 billion for the five weeks ended December 30, 2017.

Comparable sales, or same-store sales, were flat for the five-week period, compared to the five weeks ended January 6, 2018.

For the 48 weeks ended January 5, 2019, the company reported net sales of $12.46 billion, compared to net sales of $11.59 billion for the 48 weeks ended December 30, 2017. Comparable sales for the 48-week period ended January 5, 2019 increased 3 percent, compared to the 48 weeks ended January 6, 2018.

Looking ahead to the fourth quarter, L Brands expects to report adjusted earnings per share towards the higher end of its previous guidance of $1.90 to $2.10, not including a preliminary estimated pretax charge, principally non-cash, related to the sale of La Senza of approximately $80 million, or $0.15 per share.

The company closed on the previously announced sale of the La Senza business to an affiliate of Regent LP on January 6, 2019.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.02 per share for the quarter. Analysts' estimates typically exclude special items.

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