L Brands sales up 7% in January
Following a difficult sales month in December, US apparel firm L Brands, known for its Victoria's Secret, Pink, and Bath & Body Works brands, reported on Thursday January numbers that surpassed expectations.
The Columbus-based retailer reported net sales of $1.04 billion for the five-week period ended February 3, 2018, up from $805.2 million compared to the same period last year. Meanwhile, comparable sales in January increased 7 percent.
The fifth week in January 2018 represented approximately $150 million in sales and $0.07 in earnings per share.
By brand, Victoria’s Secret sales rose 4 percent in January (the brand declined 1 percent during December’s holiday season), while Bath & Body Works sales rose 13 percent and L Brands by 7 percent.
It’s the first month that L Brands hasn’t suffered from its decision to pull its Victoria’s Secret swim and apparel categories in 2016.
Preliminary net sales were also slightly up at $4.823 billion for the 14-week fourth quarter ended Feb. 3, 2018, compared to $4.489 billion reported during the same period last year. Comparable sales for the 14-week fourth quarter increased 2 percent.
The company now expects to report fourth quarter earnings per share of about $2.05, compared to its previous guidance of about $2.00.
Full fourth quarter earnings are expected to be reported after the markets close on February 28, 2018.
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