Why Shares of L Brands Are Rising Today
Shares of L Brands (NYSE: LB) rose over 6% in morning trading Thursday after the owner of Victoria's Secret and Bath & Body Works reported better than expected second-quarter earnings.
L Brands has been wracked by both the coronavirus pandemic and its attempt to shed the ailing lingerie brand, which continued to perform poorly in the latest period. Yet the Bath & Body Works personal-care retailer more than offset the Victoria's Secret decline, posting comparable-stores sales that surged 87% from the year-ago period for the time its stores were open in the quarter.
Source Fool.com
