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L Brands expects to post Q2 earnings per share between 1.20 to 1.30 dollars

By Prachi Singh

Jul 14, 2021

Report

Image: L Brands resources

L Brands, Inc. has reported net sales of 2.351 billion dollars for the nine weeks ended July 3, 2021, compared to net sales of 1.369 billion dollars for the same period ended July 4, 2020.

The company currently expects to report second quarter earnings per share between 1.20 dollars and 1.30 dollars and operating income of more than 400 million dollars for the Bath & Body Works segment, and more than 200 million dollars for the Victoria’s Secret segment.

L Brands reports segment sales results

The company said in a statement that second quarter 2020 sales were negatively impacted by the closure of stores for approximately half the quarter due to the Covid-19 pandemic. Sales for the first nine weeks of the second quarter of 2021 increased 12 percent compared to sales of 2.101 billion dollars for the same period of 2019.

The company added that Bath & Body Works net sales were 1.239 billion dollars for the nine-week period compared to 743.5 million dollars for the nine weeks ended July 4, 2020. Bath & Body Works sales for the first nine weeks of the second quarter of 2021 increased 48 percent compared to the same period of 2019.

Victoria’s Secret net sales were 1.112 billion dollars for the nine-week period compared to 625.7 million dollars for the nine weeks ended July 4, 2020. Victoria’s Secret comparable sales for the first nine weeks increased 3 percent compared to the same period in 2019.

Second quarter-to-date sales in 2021 for both Bath & Body Works and Victoria’s Secret were negatively impacted by a later start to their semi-annual sales compared to 2019.