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L Brands comparable October sales improve 2 percent

By Prachi Singh

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Report

L Brands net sales of 794.1 million dollars for the four weeks ended October 28, 2017, increased 5 percent, compared to 756.7 million dollars for the four weeks ended October 29, 2016. Comparable sales increased 2 percent for the period. The company said, for October, the exit of the swim and apparel categories had a negative impact of about 1 percentage point and 2 percentage points to total company and Victoria’s Secret comparable sales, respectively.

The company expects third quarter earnings per share to be at the high end of its previous guidance of 0.25 dollar to 0.30 dollar, and reiterates its previous full-year 2017 earnings guidance of 3 dollar to 3.20 dollar per share.

Review of L Brands’ nine month results

The company reported net sales of 2.618 billion dollars for the 13 weeks, an increase of 1 percent, compared to 2.581 billion dollars for the same period ended October 29, 2016. Comparable sales decreased 1 percent for the period. For the 13 weeks, the exit of the swim and apparel categories had a negative impact of about 2 percentage points and 2 percentage points to total company and Victoria’s Secret comparable sales, respectively.

The company’s net sales of 7.809 billion dollars for the 39 weeks decreased 3 percent, compared to 8.085 billion dollars for the 39 weeks ended October 29, 2016. Comparable sales decreased 6 percent for the period. The exit of the swim and apparel categories had a negative impact of about 5 percentage points and 7 percentage points to total company and Victoria’s Secret comparable sales, respectively.

Picture:Facebook/La Senza

L BRANDS