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Victoria’s Secret parent L Brands (LB) reports Q2 2020 earnings

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A woman wearing a protective mask passes a homeless person during the coronavirus pandemic on May 12 2020 in New York City.

John Lamparski | Getty Images

Victoria’s Secret owner L Brands booked a surprise profit and better-than expected revenue during the latest quarter, sending its shares higher in after-hours trading Wednesday.

Sales fell 20% during the fiscal second quarter ended Aug. 1 with stores closed due to the pandemic, but they weren’t as bad as analysts feared thanks to its soaps and fragrances division.

The news sent the company’s shares up by more than 4% in after-hours trading after closing the day up by about 1%.

Excluding one-time charges, it earned 25 cents per share, up a…



Source cnbc.com

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