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

March 26, 2021

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

Its stock jumped more than 5.5% in early 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.

L Brands, which also owns Bath & Body Works, said it has seen “unusual shifts in consumer spending patterns,” which have led to boosted sales.

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