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L Brands Q4 profit up, sales down
Columbus, Ohio – L Brands Inc. saw its fourth-quarter profit increase 19% as the prior year was negatively impacted by special charges. The owner of Victoria’s Secret, Bed, Bath & Body Works and other brands earned $489.6 million for the quarter that ended Feb. 1, compared to $411.4 million, in the prior year.
Revenue for the quarter, which included an extra week, declined to $3.82 billion from $3.86 billion. Same-store sales were up 1%.
For the full year, L Brands earned $903 million, and reported sales of $10.77 billion. -
Gap Q4 profit falls 12.5% but tops Street; expanding Athleta banner
San Francisco -- Gap Inc. on Thursday reported a 12.5% decline in fourth-quarter profit, with its results impacted by heavy discounting during the holidays. The retailer also issued a profit outlook for the full year that is below analysts' expectations, and said it will open 30 additional U.S. stores during fiscal year 2014.
Gap reported net income of $307 million for the three-month period ended Feb. 1, better than the Street expected, down from $351 million in the year-ago period.