Victoria’s Secret-owner L Brands shares jump on raised profit outlook, thanks to stimulus boost

Finance

In this article

Pedestrians wearing protective masks carry Victoria’s Secret Stores LLC shopping bags in San Francisco, California, U.S., on Wednesday, Feb. 17, 2021.
David Paul Morris | Bloomberg | Getty Images

Victoria’s Secret-owner L Brands on Friday raised its profit outlook for the first quarter, citing a boost from government stimulus and from loosened Covid-related restrictions.

Its stock jumped more than 5% in premarket trading.

The company now expects an adjusted profit of 85 cents to $1 per share, compared with its previous forecast of 55 cents to 65 cents.

This story is developing. Please check back for updates.

Articles You May Like

Tesla reports record revenue and beats on earnings
Intel shares drop on weak quarterly results and expectations for another quarter of losses
EURUSD looks to retest the high from Monday/January and topside swing level
US PCE Inflation Cooled, Markets Steady, Dollar Sluggish
Basic Introduction to Forex with Thinkorswim