L Brands Q1 earnings up 10 percent

REPORT_ L Brands has reported that its earnings per share for the first quarter ended May 3, 2014,

increased 10 percent to 0.53 dollars compared to 0.48 dollars for the quarter ended May 4, 2013. First quarter operating income was 336.1 million dollars compared to 311.2 million dollars last year, and net income was 157 million dollars compared to 142.5 million dollars last year.

The company reported net sales of 2.391 billion dollars for the 13 weeks ended May 3, 2014, an increase of 5 percent compared to sales of 2.268 billion dollars for the 13 weeks ended May 4, 2013. Comparable stores sales increased 2 percent.

The company headquartered in Columbus, Ohio stated that it expects 2014 second quarter earnings per share to be 0.57 dollars to 0.62 dollars compared to earnings per share of 0.61 dollars per share last year. For 2014, the company expects earnings per share of 3 dollars to 3.15 dollars versus its previous guidance of 3 dollars to 3.20 dollars.

L Brands, through Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, operates 2,923 company-owned stores in the United States, Canada and the United Kingdom and its brands are sold in about 600 franchised additional locations world-wide.