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General Growth clarifies comments about Amazon’s store expansion plans
The CEO of General Growth Properties caused a firestorm late Tuesday when he made a passing reference during the company’s fourth quarter earnings call that Amazon was planning to open 300 to 400 bookstores. On Wednesday, the mall giant issued a very short statement that poured water on the fire.
“General Growth Properties CEO Sandeep Mathrani has indicated that a statement he made concerning Amazon during GGP's earnings conference call held on February 2, 2016, was not intended to represent Amazon's plans.”
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L Brands keeps setting sales records
L Brands raised its profit outlook for the year after reporting record sales in the fourth quarter.
For the fourth quarter ended Jan. 30, the company had net sales of $4.395 billion, an increase of 8% compared to $4.069 billion for the quarter ended Jan. 31, 2015. Same store sales increased 6%. Net sales for the year ended Jan. 30 were $12.154 billion, an increase of 6% compared to $11.454 billion for the year ended Jan. 31, 2015. Same store sales for the year ended Jan. 30 increased 5%.

