U.S. Markets closed

L Brands tops 4Q profit forecasts

COLUMBUS, Ohio (AP) _ L Brands Inc. (LB) on Wednesday reported fiscal fourth-quarter profit of $631.7 million.

The Columbus, Ohio-based company said it had profit of $2.18 per share. Earnings, adjusted for pretax gains, came to $2.03 per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.90 per share.

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $4.49 billion in the period, which did not meet Street forecasts. Eleven analysts surveyed by Zacks expected $4.5 billion.

For the year, the company reported profit of $1.16 billion, or $3.98 per share. Revenue was reported as $12.57 billion.

L Brands expects full-year earnings to be $3.05 to $3.35 per share.

L Brands shares have declined 12 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 5.5 percent. In the final minutes of trading on Wednesday, shares hit $58.13, a drop of 31 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LB at https://www.zacks.com/ap/LB

_____

Keywords: L Brands, Earnings Report