Victoria’s Secret-owner L Brands shares jump on raised profit outlook, thanks to stimulus boost

Earnings

In this article

Pedestrians wearing protective masks carry Victoria’s Secret Stores LLC shopping bags in San Francisco, California, U.S., on Wednesday, Feb. 17, 2021.
David Paul Morris | Bloomberg | Getty Images

Victoria’s Secret-owner L Brands on Friday raised its profit outlook for the first quarter, citing a boost from government stimulus and from loosened Covid-related restrictions.

Its stock jumped more than 5% in premarket trading.

The company now expects an adjusted profit of 85 cents to $1 per share, compared with its previous forecast of 55 cents to 65 cents.

This story is developing. Please check back for updates.

Articles You May Like

Ferrari’s $400,000 Purosangue is a dream to drive. Just don’t call it an SUV
At 99, billionaire Charlie Munger shared his No. 1 tip for living a long, happy life: ‘Avoid crazy at all costs’
Top Wall Street analysts expect these dividend stocks to enhance total returns
Goldman Sachs is betting on the small cap rally. Here’s how.
Three reasons a strong Black Friday weekend may not mean a blowout holiday season for retailers