Shares of L Brands, Inc. (LB) were up nearly 2% on Friday, as the company continues to benefit from its upbeat earnings report and speculation that the stock may be headed for a comeback.

Best known for its Victoria’s Secret segment, L Brands also has other recognizable brands under its name, including Bath & Body Works, La Senza and Henri Bendel. Founded more than 50 years ago, the brand has thus far had a sterling record for growth. Earlier in the year, L Brands’ weak earnings guidance and internal structuring weighed on share prices.

On top of weak earnings guidance, the company also warned that pressure from foreign exchange rates would have a negative impact on results. It would be further hurt by interest expenses related to a $1 billion note issuance in October 2015.

In early October, shares for the company rebounded after L Brands posted higher sales and revenue for September. Comparable-store sales growth topped analysts' estimates, and revenue came in higher than expected.

Same-store sales were up  3% year-over-year. Wall Street was looking for 1% growth, according to CNBC. L Brands had initially projected flat growth for the period.

Revenue was up 6% year-over-year, climbing to $971.4 million.

For the month of October, L Brands expects same-store sales to increase in the low single-digit range.

September's results were a bright spot for the company, and with sales showing signs of improvement, the stock may be poised for a comeback.

L Brands has approximately 3,000 domestic stores, and about 1,000 stores in the international market. International sales last year accounted for about 11% of its total revenue.

While the company's iconic brand Victoria's Secret is still a leader in the intimate apparel industry, it is facing increased competition from American Eagle, Gilly Hicks and Abercrombie.

Still, Victoria's Secret remains the #1 lingerie brand, owning the #1 dollar share for panties and bras. PINK, a subset of Victoria's Secret, is a leading collegiate brand, and sales have more than doubled in the last five years.

The brand also produces three of the top ten fragrances in the United States: Heavenly, Bombshell and Tease.

Of course, Victoria Secret's famous fashion show, broadcasted annually, also boosts brand awareness significantly. The show is broadcasted in 180 countries and generates 60 billion media impressions around the world.

Strong brand awareness and a large market share are two bright spots for L Brands, which should help the company improve its performance moving forward.

Growth has also been strong for the company, with the only exception being the financial crisis. Looking ahead, the company hopes to boost growth by focusing on its most dominant brands, square footage growth, a store-selling initiative, online growth and international growth.

While L Brands has a history of strong growth and a strong brand, it does have its issues. Debt is a concern, specifically Equity to Assets and Cash to Debt. Interest Coverage is slightly weaker as well.

Debt has soared for L Brands over the last ten years, but earnings and free cash flow have increased as well.

If L Brands continues to improve its performance, its stock will continue to rebound, but tackling its issue with debt may help move along the recovery faster.