×
32 944
Fashion Jobs
NORDSTROM
Loss Prevention Security Ambassador Pacific Commons Rack
Permanent · Fremont
NORDSTROM
Loss Prevention Security Ambassador Valley Fair
Permanent · San Jose
NORDSTROM INC
Loss Prevention Security Ambassador Valley Fair
Permanent · San Jose
NORDSTROM
Loss Prevention Agent Northpark Center
Permanent · Dallas
NORDSTROM INC
Area Manager - 1st Shift Tue-Sat - Portland, or
Permanent · Portland
NORDSTROM
Loss Prevention Agent Aventura
Permanent · Aventura
NORDSTROM INC
Loss Prevention - Security Ambassador 2 - Ontario, ca
Permanent · Ontario
NORDSTROM
Loss Prevention Security Ambassador Brentwood Place Rack
Permanent · Brentwood
NORDSTROM
Loss Prevention Security Ambassador Somerset Collection
Permanent · Troy
NORDSTROM
Loss Prevention Security Ambassador Mayfair Mall
Permanent · Wauwatosa
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Marinette
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · London
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Galesburg
KOHLS
Full-Time Loss Prevention Officer
Permanent · Portland
KOHLS
Full-Time Loss Prevention Associate
Permanent · Middletown
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Southaven
FOSSIL
Business Analyst
Permanent · Austin
FOSSIL
Customs Compliance Coordinator
Permanent · Dallas
SHISEIDO
Sales & Training Executive (Bareminerals/Buxom) (Raleigh)
Permanent · Durham
JOCKEY
Wholesale Product Manager
Permanent · Kenosha
JOCKEY
Security Officer - Part-Time (Weekend Evenings: 6 pm-6 am)
Permanent · Kenosha
TJ MAXX
Loss Prevention Detective
Permanent · Brookfield
Published
Feb 25, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

L Brands tops earnings expectations; revenues fall short on Victoria’s Secret weakness

Published
Feb 25, 2021

Victoria’s Secret parent company L Brands, Inc. reported fourth-quarter income of $860.3 million, or $3.03 per share, on Wednesday, beating the $2.91 per share forecast by Refinitiv analyst data, as cited by CNBC. The result was also a significant improvement when compared to the net loss of $192.3 million, or $0.70 per share, posted by the company in the same period in the previous year.


Victoria's Secret continued to see declines in its sales in Q4 - Instagram: @victoriassecret

 
The group’s net sales for the fourth quarter ended January 30, 2021, totaled $4.82 billion, increasing 2% from $4.71 billion in the prior-year period, but falling short of analysts’ expectations of $4.87 billion.
 
As usual, the company’s Bath & Body Works brand led revenue growth, seeing sales of $2.72 billion, up 21.8% from the prior-year period. Lingerie brand Victoria’s Secret, on the other hand, continued to hinder its parent company’s progress, posting a year-over-year decline of 15.2% in its revenues, which totaled $2.10 billion.

Both brands made progress in the direct channel, with Victoria’s Secret managing a 32.7% increase in direct revenues, while Bath & Body Works posted a 74.0% rise.
 
“Following on our record third quarter results, the exceptional efforts and execution of our team enabled us to deliver another record performance in the fourth quarter,” said L Brands CEO Andrew Meslow in a release. “We experienced consistent strength at Bath & Body Works along with continued significant improvement in performance at Victoria’s Secret.”
 
Full-year net sales at the company were $11.85 billion, slipping 8.3% from $12.914 billion in the previous year. Annual earnings totaled $844.5 million, or $3.00 per share, up from a net loss of $366.4 million, or $1.33 per share.
 
“Looking forward, we remain focused on our strategy to deliver compelling merchandise and experiences to our customers while maintaining a safe environment,” added Meslow. “At the same time, we continue to move ahead in our plans to separate our two businesses. As a result of the collective initiatives underway, the company is well positioned to continue driving value for our shareholders.”
 
L Brands intends to complete the planned separation of Victoria’s Secret and Bath & Body Works into two separate, standalone companies in August 2021.  
 
In the first quarter, L Brands expects to report earnings per share in the range of $0.35 to $0.45. Due to the upcoming separation of its businesses and the uncertainty surrounding the ongoing Covid-19 pandemic, the company has not provided full-year financial guidance for 2021.

Copyright © 2021 FashionNetwork.com All rights reserved.