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L Brands raises Q2 earnings guidance on fewer promotions

L Brands raises Q2 earnings guidance on fewer promotions

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L Brands Inc. said late Tuesday it expects to report second-quarter per-share earnings between $1.20 and $1.30, compared with a previous guidance of EPS between 80 cents and $1.00. That increase is mostly thanks to higher-than-forecasted merchandise margin rates and as a “strong customer response to merchandise assortments and disciplined inventory management enabled a reduction in promotional activity,” the company said.

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