Parent company of Victoria’s Secret raises profit outlook on improved sales

L Brands is feeling good about its first quarter. 

The parent company of Victoria’s Secret and Bath & Body Works raised its first-quarter earnings guidance due to improved sales trends primarily from “unusual shifts” in consumer spending. L Brands said the trends were fueled by stimulus payments and relaxed COVID-19 restrictions.

The company is now forecasting a first-quarter earnings per share range of $0.85 to $1.00 versus its previous range of $0.55 to $0.65. But the retailer cautioned that the environment remains uncertain, “and there is no assurance that these improved trends will continue.”

The previously mentioned factors have led to a stronger first-quarter forecast at both Bath & Body Works and Victoria’s Secret. The environment remains uncertain, and there is no assurance that these improved trends will continue.