LB LandBridge Company LLC

By Imani Moise 

L Brands Inc. lowered its earnings outlook for its final quarter Thursday as the retailer reported lower-than-expected comparable sales in December.

The Ohio-based owner of Victoria's Secret and Bath & Body Works now expects earnings per share to be on the low end of its previous guidance of $1.85 to $2 for the fourth quarter. Wall Street was expecting $1.92 per share, according to Thomson Reuters.

The company also forecast January sales to be flat.

Shares of the company fell 3.6% to $64.89 in premarket trading. As of Wednesday's close, they had fallen 4.5% in the past three months.

For the five weeks ended Dec. 31, net sales rose 1% to $2.44 billion but same-store sales decreased by 1%, compared with an 8% increase a year earlier. Analysts had expected same-store sales to grow 0.6% overall.

The decline was led by a 4% drop in comparable sales at Victoria's Secret, which was partially offset by 3% growth in same-store sales at Bath & Body Works.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

January 05, 2017 08:46 ET (13:46 GMT)

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