L Brands strong out of the gate
L Brands is off to a great start in January.
The retailer, whose brands include Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, reported that same-store sales rose 7% in January, easily beating analysts’ predictions of a 1.8% increase . Overall sales for the five-week period rose to $1.04 billion, up from $805.2 million in the year-ago period. (The extra week this January represented approximately $150 million in sales.)
By brand, same-store sales rose 4% at Victoria’s Secret’s in January, and 13% at Bath & Body Works, both beating expectations.
L Brands reported sales of $4.82 billion, up from $4.49 billion last year, for its fourth quarter, ended Feb.3. Same-store sales rose 2%.
For the full year, L Brands’ net sales were $12.63 billion, compared to $12.57 billion last year. Same-store sales fell 3%. The retailer said its exit from the swim and apparel categories had a negative impact of about 3 percentage points and 5 percentage points to total company and Victoria’s Secret comparable sales, respectively.
The company operates 3,078 company-owned specialty stores under its Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel banners in the United States, Canada, the United Kingdom, Ireland and Greater China.
The retailer, whose brands include Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, reported that same-store sales rose 7% in January, easily beating analysts’ predictions of a 1.8% increase . Overall sales for the five-week period rose to $1.04 billion, up from $805.2 million in the year-ago period. (The extra week this January represented approximately $150 million in sales.)
By brand, same-store sales rose 4% at Victoria’s Secret’s in January, and 13% at Bath & Body Works, both beating expectations.
L Brands reported sales of $4.82 billion, up from $4.49 billion last year, for its fourth quarter, ended Feb.3. Same-store sales rose 2%.
For the full year, L Brands’ net sales were $12.63 billion, compared to $12.57 billion last year. Same-store sales fell 3%. The retailer said its exit from the swim and apparel categories had a negative impact of about 3 percentage points and 5 percentage points to total company and Victoria’s Secret comparable sales, respectively.
The company operates 3,078 company-owned specialty stores under its Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel banners in the United States, Canada, the United Kingdom, Ireland and Greater China.
