- Sara Ehlers |
After a report surfaced, March proved to be a good month for Victoria’s Secret, PINK, and Bath & Body Works. According to sales results from L Brands, parent company of the three retailers, profits increased over the last month beating out estimates.
Originally, Retail Metrics analysts had an estimate of an increase in sales by 1.9 for L Brands, as reported by Apparel News. However, when the company’s same-stores sales were reported, there was a 3 percent increase. The increase proved to be a whole one percent more than what was predicted, meaning that the companies beat out their original expected goal. The public company also had subsidiaries including Henri Bendel and La Senza. However, Bath & Body Works and Victoria’s Secret combined approximately equal to about 10.5 billion dollars in revenue. The fact that those companies are doing well in sales proves that L Brands is increasing more in its sales, which equates its success as a parent company.
L Brands currently has about 94,600 employees and is based in Columbus, Ohio. The American fashion retailer was founded by Leslie H. Wexner in 1963. According to Wikipedia, the company has a total net income of 903 million dollars annually. Previously, L Brands has been named by Fortune 500 as one of the top companies in the U.S.