Bath & Body Works leads L Brands sales gain in August
Columbus, Ohio-based fashion retail group L Brands, Inc. reported on Thursday a net sales gain in August, reaching $856.3 million, compared to $842.1 million, reported during the prior year period.
Meanwhile, comparable sales increased 1 percent for the four weeks ended September 1, 2018.
The sales increase was driven by the group’s personal care brand, which again offset a fall in sales at Victoria’s Secret. Bath & Body Works saw comparable sales jump 15 percent during the month, while sales at its lingerie chain fell 5 percent.
Year to date, the company reported net sales of $6.466 billion for the 30 weeks ended September 1, 2018, compared to net sales of $6.034 billion for the same period last year. Comparable sales increased 2 percent.
L Brands’ current guidance for Q3 2018 forecasts earnings per share (EPS) between $0.00 and $0.05, while the company’s full-year outlook now predicts EPS between $2.45 and $2.70, down from previously issued guidance of between $2.70 to $3.00.
The company opened 38 new stores in August 2018 and closed 29, meaning that it currently operates a total of 3,084 locations across the US, Canada, the UK, Ireland and China.
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