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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. -
Walmart acquires tech startup Yumprint
San Bruno, Calif. -- WalmartLabs, Walmart’s online and digital development division, has acquired Seattle-based recipe technology startup Yumprint to expand its online grocery delivery services.
Yumprint has a website and mobile app to search and discover new recipes from thousands of food blogs, plan meals and calculate nutritional information.