Victoria’s Secret parent company L Brands (LB) raised its full-year outlook Wednesday to between $3.79 and $3.94 earnings per share—versus previous guidance of $3.60 to $3.80—after reporting a 3 percent increase in same-store sales in the second quarter ended July 30. Comps rose 1 percent at Victoria’s Secret stores, or 2 percent when direct-to-consumer sales were taken into account. As a result, L Brands said net sales were up 5 percent in Q2, from $2.77 billion to $2.89 billion. Quarterly net income was $252 million or 87 cents per diluted share, compared with last year’s $205 million or 70 cents per diluted share. The company’s stock jumped 5.17% in early trading Thursday, but it’s down 16.71% year-to-date.
York, Pennsylvania-based Bon-Ton Stores (BONT) said Thursday that sales at stores open for at least a year fell 2 percent in the three months ended July 30, leading to a 2.4% decline in revenue to $542.4 million. Though less than last year’s $555.4 million, the retailer did record sales increases in activewear, big & tall, denim, young men’s and young contemporary plus, as well as a triple-digit increase in mobile sales. This helped Bon-Ton narrow its net loss from $39.6 million to $38.7 million.
Walmart U.S. delivered a comparable sales increase of 1.6% in the three months ended July 31—its eighth straight quarter of positive growth, which the company (WMT) attributed to a 1.2% bump in traffic, boosting net sales by 3.1% to $76.24 billion. Revenue at Walmart International rose 2.2% to $28.6 billion, contributing to the company’s total revenue increase of 0.5%, up from $120.2 billion to $120.85 billion. Profits in the second quarter amounted to $3.7 million or $1.21 per diluted share. Walmart now estimates adjusted earnings of between $4.15 and $4.35 in fiscal 2017, compared with $4.00 to $4.30 previously.
A challenging retail environment and continued regional pressure from depressed oil prices and the weak peso caused Houston-based Stage Stores (SSI) to record a 9.8% decrease in comparable sales in the second quarter. Total sales declined 11.2% to $338.4 million in the three months ended July 30, while profits fell to $41,000, down from $1.6 million a year ago.