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L Brands (LB) Stock Climbs on Q2 Earnings Beat

NEW YORK (TheStreet) -- Shares of L Brands (LB) were rising mid-morning on Thursday after the Columbus, OH-based company reported solid results for the 2016 second quarter and raised its full-year outlook.

After yesterday's market close, the owner of Victoria's Secret and Bath & Body Works posted adjusted earnings of 70 cents per share, exceeding analysts' projections of 59 cents per share.

Revenue rose 5% to $2.89 billion year-over-year and was above Wall Street's estimates of $2.86 billion.

Comparable-store sales increased 3% during the period.