Limited Q1 profit advances, raises guidance

Columbus, Ohio -- L Brands Inc., formerly known as Limited Brands, reported Wednesday that profit for the quarter ended May 4 surged 14% to $142.5 million, from $124.6 million last year. The Victoria’s Secret and Bath and Body Works parent increased its outlook for the year.



Quarterly sales rose 5% to $2.27 billion from $2.15 billion, edging Wall Street’s expected $2.26 billion in revenue. Same-store sales increased 3%.