A woman wearing a protective mask passes a homeless person during the coronavirus pandemic on May 12 2020 in New York City.
John Lamparski | Getty Images
Victoria’s Secret owner L Brands on Wednesday said its sales fell 20% during the latest quarter with stores closed due to the pandemic, but they weren’t as bad as analysts feared.
The news sent the company’s shares up by more than 4% in after-hours trading after closing the day up by about 1%.
L Brands generated $2.32 billion in revenue, down from $2.9 billion during the same time last year but better than an expected $2.21 billion, according to data from Refinitiv.
L Brands’ stock is up about 57% this year. The company has a market cap of $7.9 billion.
This story is developing and will be updated.
