World News: 14:52 GMT Thursday 23rd May 2019. [Yahoo Business News Feed via SPi World News]
The stock increase is unusual for the the company this year, where shares had declined 16 percent year to date through Wednesday’s close. L Brands is the fifth-worst performer for the year-to-date period in the S&P 500 Retailing Index, behind department stores Macy’s Inc., Nordstrom Inc. and Kohl’s Corp. and apparel retailer The Gap Inc. Given that sentiment was so weak heading into the first-quarter, investors can breathe a sigh of relief, RBC Capital Market’s analyst Kate Fitzsimons wrote, citing the earnings beat, Bath & Body Works momentum, an 'on-plan' Victoria’s Secret and the tightened earnings outlook.
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