Apparel

L Brands is showing that it continues to be a bright spot in a volatile specialty retail environment with its latest quarterly results.

The company raised its full-year adjusted earnings guidance to $3.50 to $3.70 a share, from its previous forecast for $3.45 to $3.65. The retailer reported profit of $250.5 million, or 84 cents a share, in the three months ended May 2, up from $157 million, or 53 cents a share, in the prior year period. Sales rose 5% to $2.5 billion.

Jacksonville, Fla. – Earnings dipped at Stein Mart Inc. during the first quarter of fiscal 2015, even as net sales improved. Net income fell 3% to $13.6 million from $14.1 million a year earlier, with higher loan interest expense a major contributor.

Net sales increased 7% to $353.5 million, from $328.9 million. Same-store sales rose 4.8%. Higher store traffic and e-commerce sales boosted same-store sales results.

Columbus, Ohio -- L Brands Inc. continued its winning ways in its first quarter, reporting better-than-expected earnings. The parent company of Victoria’s Secret and Bath & Body Works also lifted its earnings forecast for the full year, but issued a weak forecast for the current quarter.

L Brands’ net income increased 59% to $250.47 million from $156.98 million in the year-ago period.

Net sales grew 5% to $2.51 billion from $2.39 billion last year.

Same-store sales rose 5%.

Bon-Ton Stores Inc. cited growth in the e-commerce channel as among the reasons for the company's slight increase in same store sales in the first quarter.

MINNEAPOLIS —Target Corp. on Wednesday reported a larger-than-expected increase in first-quarter profit amid signs that its efforts to refocus and revamp its product lineup are taking hold. Target executives said they are “pleased” with its first quarter, particularly the performance of  its signature categories, as the retailer also posted a lift in sales and double-digit gains in its digital channel.

Seattle -- Nordstrom plans to further expand its San Diego County presence with the addition of a Nordstrom Rack at The Shops at La Jolla Village in La Jolla, California.

The approximately 32,000-sq.-ft. store is scheduled to open in fall 2016. The property is owned by Alecta Real Estate USA, LLC. When it opens, it will be the fifth Nordstrom Rack in the San Diego area and about one mile west of Nordstrom at University Towne Centre.

A legal veteran of Abercrombie & Fitch and Harvard Law grad has been named general counsel for Big Lots.

Ronald "Rocky" Robins Jr. becomes SVP general counsel and corporate secretary at Big Lots. Robins will be a member of the executive leadership team of the company and report directly to David Campisi, CEO and president.

Pittsburgh -- American Eagle Outfitters on Wednesday reported first-quarter net income of $29.1 million, up from $3.9 million a year ago, amid higher sales and fewer promotions. It results beat Wall Street expectations.

The retailer posted better-than-expected revenue of $699.5 million for the quarter ended May 2, up 8% from $646.13 million a year ago.

Total same-store sales rose 7%.