L Brands reports growth in sales and earnings for 2015

By

Dani Greene

Published
Feb 26, 2016

L Brands saw year-over-year increases in sales and revenue for both FY2015 and the fourth quarter of FY2015. The company’s full year operating income grew by 12% to $2.192 billion compared to last year’s $1.953 billion. Adjusted earnings per share increased from last year’s $3.50 to $3.99 for FY 2015, an increase of 14%. Net sales for the fiscal year grew by 6% to $12.154 billion, and comparable store sales increased 5% in FY2015.

L Brands reported similar financial outcomes for Q4 FY2015, including healthy increases in sales, revenue, and earnings per share. During the fourth quarter, the company’s operating income increased by 13% to $1.078 billion. Adjusted earnings per share increased by 14% to $2.15; net sales were $4.395 billion, an increase of 8% compared to Q4 FY2014 net sales of $4.069 billion. Fourth quarter FY2015 comparable store sales increased by 6%.

 
Leslie H. Wexner, chairman and chief executive officer, commented, “We delivered record results in a year when many retailers struggled.  These results are a reflection of the strength of our brands and were driven by tremendous focus and execution across the enterprise.  I am very optimistic heading into 2016 and confident in our growth opportunities.”
 
The company anticipates continued growth for 2016, including mid-single digit for Q1 comparable store sales and earnings per share between $0.50 and $0.55 in the first quarter.

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L Brands owns and operates 3,005 specialty stores in the U.S., Canada and the United Kingdom, including Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel.