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L Brands raises Q2 income guidance based on sales

Columbus, Ohio – L Brands, parent company of retail chains including Victoria’s Secret and Bath & Body Works, is raising its income guidance for the second quarter of fiscal 2013 due to early sales results. Total revenue for July rose 4% to $678.4 million from $649.8 million, while same-store sales climbed 4%.

In addition, the company reported net sales of $2.5 billion for the second quarter, an increase of 5% compared to sales of $2.4 billion for the second quarter of last year. The company reported a same- store sales increase of 2% during the quarter, as well. L Brands now expects to report second quarter earnings per share of approximately 60 cents, up from its previous guidance of 50 cents to 55 cents and last year's adjusted result of 50 cents.