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L Brands starts 2014 with strong Q1
Columbus, Ohio – L Brands had a successful start to fiscal 2014. The company reported a 10% increase in net income to $156.9 million in the first quarter from $142.5 million the first quarter of the previous fiscal year.
Net sales rose 5% to $2.39 billion from $2.27 billion, and same-store sales grew 2% across its retail banners. Higher pretax income and operating income helped boost net income, while especially strong growth in sales at the Victoria’s Secret banner helped drive overall net sales growth. -
Williams-Sonoma stays on top in first quarter
Williams-Sonoma had a strong first quarter of fiscal 2014, with net income climbing 17% to a better-than-expected $46.16 million from $39.17 million.
Net sales grew 10% to $974.33 million from $887.8 million, also topping estimates.
Total same-store sales grew 10%. Williams-Sonoma credited much of its success during the quarter to market share gains and advantages conferred by its multichannel operations.