L Brand Q1 earnings up 15 percent, raises FY15 outlook

Adjusted earnings per share at L Brands, for the first quarter ended May 2, 2015, increased 15 percent to 0.61 dollars compared to 0.53 dollars for the quarter ended May 3, 2014. First quarter operating income increased 11 percent to 371.8 million dollars compared to 336.1 million dollars last year, and adjusted net income was 181.5 million dollars compared to 157 million dollars last year.

Including the gain from the sale of the apparel sourcing business, reported first quarter earnings per share were 0.84 dollars compared to 0.53 dollars last year, and net income was 250.5 million dollars compared to 157 million dollars last year. Net sales of 2.512 billion dollars increased 5 percent compared to sales of 2.391 billion dollars for the quarter ended May 3, 2014. Comparable store sales for the first quarter increased 5 percent.

The company increased its guidance for 2015 full-year adjusted earnings per share to 3.50 dollars to 3.70 dollars from 3.45 dollars to 3.65 dollars previously, and issued guidance for second quarter earnings per share between 0.60 dollars and 0.65 dollars.