Why L Brands, Inc. Shot Up 30% in November

Why L Brands, Inc. Shot Up 30% in November

Stock in specialty retailer L Brands, Inc. (NYSE: LB) gained 30.3% last month, according to data from S&P Global Market Intelligence.

Shares enjoyed a boost on the first day of the month when L Brands revealed in its monthly sales report that third-quarter 2017 earnings per share would reach the high end of its previously guided range of $0.25 to $0.30 per share. When released on Nov. 15, earnings indeed hit $0.30 per share for the quarter.

During the third quarter, revenue increased 1%, and comparable sales decreased by 1% versus the prior-year comparable quarter. Last year, L Brands made a strategic decision to exit swimwear and apparel within its Victoria's Secret segment. The exit impacted comparable sales negatively by 2% in the third quarter, meaning that the company achieved slightly positive "comps" of 1% when adjusting for the discontinued lines. 

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Source: Fool.com