November 19, 2018 / 9:39 PM / a year ago

L Brands' quarterly comparable sales top estimates

Nov 19 (Reuters) - L Brands Inc’s quarterly comparable sales beat analysts’ estimates on Monday, as higher sales of its Bath & Body Works fragrances and bath products helped make up for continued weak demand for its Victoria’s Secret and Pink lingerie brands.

Sales at the company’s established stores rose 4 percent in the third quarter ended Nov. 3, topping analysts’ average estimate of 1.53 percent, according to IBES data from Refinitiv.

Net sales rose to $2.77 billion from $2.62 billion a year earlier.

The company also said it has appointed John Mehas as the chief executive officer of Victoria’s Secret, replacing Jan Singer. (Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)

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