×
48 174
Fashion Jobs
ABERCROMBIE AND FITCH CO.
Career Level Merchandise Planner
Permanent · Columbus
LEVI'S
pt Sales Supervisor, Clarksburg, md
Permanent · Clarksburg
VICTORIA'S SECRET
Brand Operations Manager-Crossgates Mall vs
Permanent · Albany
BATH & BODY WORKS
Manager, Digital Merchandising
Permanent · Reynoldsburg
VICTORIA'S SECRET
Director, Marketing Operations
Permanent · New York
VICTORIA'S SECRET
Brand Operations Manager-The Mall in Columbia
Permanent · Columbia
JCPENNEY
Director, Omni Creative Marketing
Permanent · Plano
JCPENNEY
Buyer - Juniors
Permanent · Plano
JCPENNEY
sr Buyer - Intimates
Permanent · Plano
JCPENNEY
Corporate Senior Specialist - Asset Protection
Permanent · Plano
JCPENNEY
Transportation Manager - Dallas, tx
Permanent · Plano
JCPENNEY
Director, Inclusion & Diversity - Human Resources
Permanent · Plano
JCPENNEY
Manager - IT Support And Operations
Permanent · Plano
JCPENNEY
HR Senior Specialist - Benefits/Retirement
Permanent · Plano
JCPENNEY
Design Director - Active
Permanent · Plano
JCPENNEY
Product Manager - Customer Service & Pick Pack Applications
Permanent · Plano
NEIMAN MARCUS
Marketing Manager, Esg / ps
Permanent · Dallas
NEIMAN MARCUS
Loss Prevention Investigator
Permanent · Dallas
NEIMAN MARCUS
sr Manager Group Sales - Las Vegas
Permanent · Las Vegas
NEIMAN MARCUS
Supply Chain Project Analyst
Permanent · Irving
NEIMAN MARCUS
Sales Support Manager - Las Vegas
Permanent · Las Vegas
NEIMAN MARCUS
Sales Manager, Women's Apparel - Fashion Island
Permanent · Newport Beach
Published
Nov 19, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

L Brands swings to profit

Published
Nov 19, 2020

L Brands, Inc., the Columbus, Ohio-based owner of Victoria’s Secret and Bath & Body Works, announced net income of $330.58 million, or $1.17 per share, for the third quarter on Wednesday, as performances improved across its brands. In the prior-year period, the company reported a loss of $251.99 million, or $0.91 per share.


Victoria's Secret posted a4% increase in comparable sales in Q3 - Instagram: @victoriassecret

 
The group’s revenues for the third quarter ended October 31, 2020, totaled $3.06 billion, up 14.1% from $2.67 billion in the same period in the previous year. Comparable sales for the period increased 28%.
 
As usual Bath & Body Works led growth at the company, posting a quarterly comparable sales increase of 56%, up from an increase of 9% in Q3 in the previous year. However, comparable sales at the company’s Victoria’s Secret brand, which has struggled in recent years, also saw improvement, increasing 4%, compared to an 8% decline in the prior-year period.

“L Brands reported a record third quarter, driven by exceptional results and continued strength at Bath & Body Works, and a significant improvement in performance at Victoria’s Secret,” said L Brands CEO Andrew Meslow in a release.
 
Year to date, the company’s revenues decreased 14.4% year over year, falling from $8.21 million to $7.03 billion. Net loss for the nine-month period was $15.88 million, or $0.06 per share, compared to a loss of $174.14 million, or $0.63 per share, in the previous year.
 
“As we head into the holidays, our inventories are well-positioned, and we are encouraged by customers’ early response to our merchandise assortments,” added Meslow. “However, we are cautious about our ability to exceed last year’s fourth quarter sales and earnings results, given anticipated constraints on store traffic, online fulfillment and shipping capacity, as well as other uncertainties related to the Covid pandemic.”
 
In light of the ongoing uncertainty surrounding the coronavirus crisis, L Brands did not provide financial guidance for the fourth quarter or the full fiscal year.

Copyright © 2021 FashionNetwork.com All rights reserved.