L Brands Stock Soars on Strong September Sales

LB shares gained more than 7% Thursday

L Brands stock (NYSE:LB) was gaining more than 7% on Thursday as the company released its September sales, which were much stronger than they were during the year-ago period.

L Brands StockThe company said that for its five weeks ended October 6, 2018, comparable sales were up by about 5% when compared to the five weeks ended October 7 2017. L Brands added that it is also pursuing alternatives for its La Senza business moving forward.

The company added that net sales for the period came in at $1.058 billion, which came up at an 8% surge compared to its net sales of $981.6 million for the five weeks ended September 30, 2017. Plus, its net sales for the period amounted to $7.524 billion, marking a 7% surge compared to the net sales of $7.015 billion from the year-ago quarter.

Comparable sales were up about 3% for the first 35 weeks of the month compared to the same period a year ago, L Brands said. The company is also seeking every alternative possible for its La Senza business with the goal of completing an ongoing effort that will drive shareholder value as the company seeks to turn its focus towards its larger core business.

L Brands-owned La Senza has 126 company-owned and operated stores in North America, plus 188 non-company owned international stores.

LB stock was rising about 7.4% on Thursday afternoon following the news.

Article printed from InvestorPlace Media, https://investorplace.com/2018/10/l-brands-stock-lb/.

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