US apparel retailer L Brands, formerly Limited Brands, is one of the few winners this quarter according to analysts, after it raised its third-quarter earnings guidance.

Earnings per share are expected at $0.38-$0.40 from $0.26-$0.31 previously, well above consensus.

"In our opinion, strong assortments and a nimble inventory position drove solid results in 3Q, despite a difficult comparison and headwinds," Stifel analyst Richard Jaffe noted. These headwinds include the loss in sales from the recently exited apparel and make-up businesses and the company's investments in future growth.

The retailer made the trading update ahead of its investor meeting today (4 November).

October comparable store sales are expected to be up low-single digit, in line with expectations, including an expected flat comp at Victoria's Secret Stores. Total sales at Victoria's Secret Direct, which are not included in comparable store sales, are estimated to be down about 7%, driven by the exit of non-go-forward apparel merchandise.

The company will publish its third-quarter earnings update on 19 November.