L Brands Inc. adjusted its first-quarter EPS forecast as it reported a 4% rise in net sales for the four weeks ended May 5.
The women's apparel retailer said May 10 that it expects its EPS for the fiscal first quarter at the lower end of its previous guidance of 15 cents to 20 cents.
L Brands reported a 4% year-over-year increase in net sales to $751.6 million for the four weeks ended May 5, compared to the $719.6 million it registered for the four weeks ended April 29, 2017. Comparable sales for the four-week period, which were negatively impacted by the earlier Easter holidays by about 3 percentage points, were flat compared with the same period a year ago.
The Ohio-based company, which owns Victoria's Secret and Bath & Body Works, said its net sales for the first quarter ended May 5 came in at $2.63 billion, up 8% from $2.44 billion during the same quarter ended April 29, 2017.