Bath & Body Works news and archive

L Brands appoints J.K. Symancyk to its board of directors

L Brands, Inc. has appointed J.K. Symancyk as an independent member of its board of directors, effective May 20, 2021. With this addition, the company said that the board now consists of 11 directors, ten of whom are independent and six of whom are women. “We are pleased to welcome J.K. to the board and look forward to benefitting from his deep...

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L Brands posts record profit, names CFOs for Bath & Body Works and Victoria's Secret

L Brands reported earnings per share of 97 cents for the first quarter ended May 1, 2021 compared to a loss per share of 1.07 dollars for the first quarter ended May 2, 2020. The company said, operating income was 572.1 million dollars compared to a loss of 317.7 million dollars last year and net income was 276.6 million dollars compared to a...

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L Brands to separate Victoria's Secret business from Bath & Body Works

L Brands, Inc. has announced that its board of directors has unanimously approved a plan to separate the company into two independent, public companies: Bath & Body Works and Victoria’s Secret, including Victoria’s Secret Lingerie, Pink and Victoria’s Secret Beauty. “In the last ten months, we have made significant progress in the turnaround of...

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L Brands raises Q1 earnings outlook

L Brands, Inc. is now forecasting a first quarter earnings per share range of 85 cents to 1 dollar versus its previous range of 55 cents to 65 cents, excluding any charges related to the early extinguishment of debt. The company said in a statement that raise in guidance is due to improved sales trends which it believes are primarily driven by...

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L Brands raises Q1 earnings outlook

L Brands, Inc. has increased its first quarter earnings guidance from a range of 35 cents to 45 cents to a range of 55 cents to 65 cents, excluding any charges related to the early extinguishment of debt. Commenting on the update, Andrew Meslow, Chief Executive Officer of L Brands, said: “While the current environment still presents uncertainty,...

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Victoria's Secret owner L Brands posts upbeat Q4 earnings

L Brands, Inc. reported earnings per share of 3.03 dollars for the fourth quarter compared to a loss per share of 70 cents for the same quarter last year. The company said, operating income for the quarter was 1.273 billion dollars compared to 81.7 million dollars last year, and net income was 860.3 million dollars compared to a net loss of...

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L Brands holiday comparable sales improve 5 percent

L Brands, Inc. has reported net sales of 3.836 billion dollars for the nine weeks ended January 2, 2021, compared to net sales of 3.906 billion dollars for the same period ended January 4, 2020. The company said in a statement that comparable sales increased 5 percent for the period. At Bath & Body Works, comparable sales increased 17 percent,...

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L Brands announces leadership changes at Bath & Body Works

L Brands, Inc. has announced several key leadership appointments at Bath & Body Works. The company said in a statement that Julie Rosen has joined the business as President, and Deon Riley will join the business at the end of December as Chief Human Resources Officer. Both will report to Andrew Meslow, Chief Executive Officer, L Brands and Bath...

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L Brands Q2 sales drop 20 percent

Victoria’s Secret owner L Brands, Inc. has reported second quarter net sales of 2.319 billion dollars, a decrease of 20 percent compared to sales of 2.902 billion dollars for the quarter ended Aug. 3, 2019. The company said in a statement that its stores were closed during periods of time throughout the second quarter due to the Covid-19...

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L Brands announces store closures, withdraws Q1 outlook

To help limit the spread of the coronavirus, L Brands has decided to temporarily close all Bath & Body Works, Victoria’s Secret and Pink stores in the United States and Canada, effective March 17 through March 29, 2020. Additionally, the company said in a statement, home office associates have been asked to work from home if possible and all...

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L Brands names Sarah Nash as new Chair of its board of directors

L Brands, Inc. has announced the appointment of Sarah E. Nash as Chair of the board of directors, effective upon the close of the transaction to sell a majority interest in Victoria’s Secret to Sycamore Partners. As previously announced on February 20, 2020, the company said in a statement, Leslie H. Wexner will step down as chief executive...

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L Brands posts Q4 loss, comparable sales drop 2 percent

L Brands, Inc. reported a loss per share of 70 cents for the fourth quarter ended February 1, 2020, compared to earnings per share of 1.94 dollars for the quarter ended February 2, 2019. The company said in a statement that fourth quarter operating income was 81.7 million dollars compared to 799.4 million dollars last year and the net loss was...