L Brands posts big 1Q gains ahead of Victoria's Secret and Bath & Body Works split

L Brands posted first-quarter earnings of 97 cents a share, up from a loss of $1.07 last year, with sales nearly doubling 2020's results when the retailer was forced to close stores due to the pandemic. The company's Victoria's Secret and Bath & Body Works posted gains ahead of a planned spinoff of the lingerie chain as a separate publicly-traded business.