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

Largest U.S. sportsbooks join forces to tackle problem gambling
Dividend Tax Rates in Europe, 2023
I was charged $150 for missing a doctor’s appointment. Turns out these fees are on the rise
Adding features, such as an outdoor TV or pizza oven, can help sell your home for over $10,000 more, research finds
Novo Nordisk’s $1,000 diabetes drug Ozempic can be made for less than $5 a month, study suggests