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L Brands still steady on its growth trajectory


L Brands Inc. continues to elude the troubles that have plagued other mall retailers, as the company reported a spike in same store sales.

The parent company of Bath and Body Works and Victoria's Secret said earnings per share for the second quarter ended Aug. 1 increased 8% to 68 cents compared to 63 cents for the quarter ended Aug. 2, 2014. Net income was $202.5 million compared to $188.4 million last year. Same store sales increased 4%.

In a conference call with investors on Thursday, Victoria's Secret CEO Sharen Turney said: "Looking ahead to the third quarter, we are focused on driving growth with a fast and frugal approach. We are also continuing to invest in digital to provide a seamless shopping experience for our customers."

The company stated that it expects 2015 third quarter earnings per share to be $0.40 to $0.45, and raised its full-year earnings forecast to $3.58 to $3.73 per share from $3.50 to $3.70 previously, which includes a negative foreign exchange impact of approximately 12 cents per share, about 3 cents of which is in the third quarter.

L Brands operates 2,976 company-owned specialty stores in the United States, Canada and the United Kingdom.

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