RTTNews | Aug 20, 2020 10:27AM EDT

10:26 Thursday, August 20, 2020 (RTTNews.com) - Shares of apparel retailer L Brands, Inc. (LB) are climbing more than 4% Thursday morning on second-quarter earnings surprise.

The stock touched a new high of $31.33 this morning.

In the second quarter, earnings on an adjusted basis were $0.25 per share compared with $0.24 per share last year. Analysts polled by Thomsosn Reuters were expecting loss of $0.42 per share for the quarter.

Net sales for the quarter, however, decreased 20% year-over-year to $2.319 billion.

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