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Shares of L Brands, Inc. (LB - Analyst Report), which formerly traded under ticker name ‘LTD’ , reached a new 52-week high of $66.16 on Nov 29, 2013, gaining momentum from impressive third-quarter fiscal 2013 results. This specialty retailer of women’s apparel, beauty and personal care eventually closed at $64.99 on the last trading day, amassing a year-to-date return of roughly 40.2%. Average volume of shares traded over the last 3 months stands at approximately 1,944.8K.

The company currently trades at a forward P/E of 20.4x, a 21.07% premium to the peer group average of 16.85x. The last traded price is 5.2% above the Zacks Consensus average analyst price target of $61.80.

Investors are optimistic about this Zacks Rank #3 (Hold) stock as its earnings per share of 31 cents surpassed the Zacks Consensus Estimate of 28 cents, and rose 19% year over year, backed by improved consumer spending. L Brands reported net sales of $2,171.1 million that rose 6% on a year-over-year basis, beating the Zacks Consensus Estimate of $2,165 million.

With an impressive record of beating the quarterly earnings expectations, L Brands envisions earnings in the range of $1.67 to $1.82 for the fourth quarter and between $3.07 and $3.22 per share for fiscal 2013, reflecting the company’s positive outlook.

This Ohio-based company’s Bath & Body Works segment is gaining traction, driven by a rise in store transactions, enhancement in the direct channel business and growth in new stores. Its Victoria’s Secret Stores have also been performing well, and the company is revamping its La Senza brand alongside.

Moreover, L Brands is keen on augmenting its retail footprint internationally by expanding aggressively in Canada and other international markets, which is likely to enhance the company’s performance.

Apart from L Brands, retail stocks such as Newell Rubbermaid Inc. (NWL - Analyst Report), Tiffany & Co. (TIF - Analyst Report) and V.F. Corporation (VFC - Analyst Report) achieved new 52-week highs of $30.54, $89.72 and $237.18, respectively on Nov 29, 2013.

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