L Brands comparable sales drop 4 percent in January

L Brands net sales for the four-week period ended January 28, 2017, were 805.2 million dollars, a decrease of 1 percent compared to sales of 811.3 million dollars for the four-week period ended January 30, 2016. Comparable sales for the period decreased 4 percent. The company said, for January, the exit of the swim and apparel categories had a negative impact of 5 percentage points and 7 percentage points to total company and Victoria’s Secret comparable sales, respectively.

Net sales for the fourth quarter were 4.489 billion dollars, an increase of 2 percent compared to 4.395 billion dollars for the same quarter, last year. Comparable sales were flat for the period under review. For the fourth quarter, the exit of the swim and apparel categories had a negative impact of 2 percentage points and 4 percentage points to total company and Victoria’s Secret comparable sales, respectively.

Annual sales rise 3 percent

Net sales for the year ended January 28, 2017, were 12.574 billion dollars, an increase of 3 percent. Comparable sales increased 2 percent. For the year, the exit of the swim and apparel categories had a negative impact of 2 percentage points and 3 percentage points to total company and Victoria’s Secret comparable sales, respectively.

The company expects to report fourth quarter earnings per share of about 1.90 dollars, versus its previous guidance for the low end of its initial guidance of 1.85 dollars to 2 dollars. L Brands also announced a regular quarterly dividend of 0.60 dollar per share payable on March 3, 2017.

Picture:Victoria's Secret

 

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