L Brands Inc., formerly Limited Brands, outperformed profit expectations in the third quarter despite gross margin compression. In the three months ended Nov. 2, the Columbus, Ohio-based operator of Victoria’s Secret, Bath & Body Works and La Senza generated net income of $92 million, or 31 cents a diluted share, 25.4 percent higher than the $73.4 million, or 25 cents, registered in the 2012 period.
The EPS result was higher than the 28-cent profit expected, on average, by Wall Street analysts and also superior to the company’s updated guidance of Nov. 7, when it said it expected to be at the “high end” of its previous forecast for earnings of between 23 and 28 cents a share.
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