On Wednesday, L Brands stock price surged by almost 13 percent in extended hours trading after the company reported its first-quarter earnings result which surpassed the expectations.
L Brands, the parent company of Bath & Body Works and Victoria’s Secret, reported earnings result of 14% for every share on USD 2.63 billion revenue. Wall Street previously had expected that L Brands would break down and report USD 2.56 billion revenue. However, the company has indeed shown a raise in its share price for the present fiscal year.
L Brands had reported flat comparable store sales despite of the analysts previously expecting the sales to drop by 1.3 percent. Comparable store sales of just Bath & Body Works increased by 13 percent than compared to the expected 5.2 percent increase.
Brazilian cosmetics company Natura recently announced that it would acquire Avon Products, through an all share-swap agreement, after which the stock price of Avon increased by 16 percent within hours. The agreement values Avon Products at an estimated sum of USD 1.6 billion. The share price had garnered 9 percent during the usual trading session already.
In fact, the shares of NetApp also soared over 6 percent after the company reported its fiscal fourth quarter earnings. The data services and management company reported an earnings of USD 1.22 for every share as well as revenue of USD 1.59 billion while the analysts expected earnings of USD 1.26 for every share as well as revenue of USD 1.64 billion.
