L Brands 1Q Revenues Exceed Expectations

L Brands (Columbus, Ohio), parent company of Victoria’s Secret, beat analysts’ estimates for first quarter revenues, according to CNBC. The company reported revenue of $3.02 billion, slightly higher than the forecast $3.01 billion.

Net income was up $276.6 million, up from a loss of $296.9 million, and total same-store sales increased 21 percent year over year. Same-store sales at Victoria’s Secret were up 25 percent compared to the same period last year, while same-store sales at Bath & Body Works grew 15 percent.

“We are beginning to tell the story of our brand repositioning through our marketing,” a company statement said.