L Brands Inc. raised its guidance for third-quarter earnings, one day before its investor update meeting on Tuesday.
The company said it expects third-quarter earnings per share between 38 cents and 40 cents, up from prior guidance of 26 cents to 31 cents. The firm posted third-quarter EPS of 31 cents a year ago.
L Brands also said it expects October comparable-store sales to be up low-single-digit, which is in line with expectations. That includes a flat comp at Victoria’s Secret Stores, and a 5 percent gain at Bath & Body Works. Total sales at Victoria’s Secret Direct, not included in comp-store sales, were guided at down 7 percent, mostly due to the exit of non-go-forward apparel merchandise.
The company on Tuesday is holding its investor update meeting from noon to 3 p.m.
L Brands will post third-quarter results on Nov. 19.