- Prachi Singh |
Earnings per share at L Brands for the second quarter ended July 30, 2016, were 0.87 dollar compared to 0.68 dollar for the quarter ended August 1, 2015. Second quarter operating income increased 1 percent to 408.2 million dollars compared to 402.9 million dollars last year, and net income was 252.4 million dollars compared to 202.5 million dollars last year.
The company reported net sales of 2.890 billion dollars, an increase of 5 percent compared to net sales of 2.765 billion dollars for the quarter ended August 1, 2015. The company reported a comparable sales increase of 3 percent for the second quarter.
Raises full-year earnings outlook
Excluding a pre-tax gain of 108.3 million dollars or 0.24 dollar per share related to a cash distribution from Easton Town Center; and a pre-tax charge of 35.8 million dollars or 0.08 dollar per share related to the early extinguishment of the company’s July 2017 notes, adjusted second quarter earnings per share increased 3 percent to 0.70 dollars compared to 0.68 dollar last year, and adjusted net income increased 1 percent to 204.7 million dollars compared to 202.5 million dollars last year.
The company expects 2016 third quarter earnings per share to be 0.40 dollar to 0.45 dollar and full-year earnings per share between 3.79 dollars and 3.94 dollars. Excluding certain extraordinary items, the company expects to report full-year adjusted earnings per share between 3.70 dollars and 3.85 dollars, versus its previous guidance of 3.60 dollars to 3.80 dollars.