COLUMBUS, Ohio, Aug. 09, 2018 (GLOBE NEWSWIRE) L Brands, Inc. (NYSE: LB) reported net sales of $849.7 million for the four weeks ended Aug. 4, 2018, compared to net sales of $767.7 million for the four weeks ended July 29, 2017. Comparable sales for the four weeks ended Aug. 4, 2018, were flat compared to the four weeks ended Aug. 5, 2017.
The company reported net sales of $2.984 billion for the 13 weeks ended Aug. 4, 2018, compared to sales of $2.755 billion for the 13 weeks ended July 29, 2017. Comparable sales for the 13 weeks ended Aug. 4, 2018, increased 3 percent compared to the 13 weeks ended Aug. 5, 2017.
The company reported net sales of $5.610 billion for the 26 weeks ended Aug. 4, 2018, compared to sales of $5.192 billion for the 26 weeks ended July 29, 2017. Comparable sales for the 26 weeks ended Aug. 4, 2018, increased 3 percent compared to the 26 weeks ended Aug. 5, 2017.
The company stated that it expects to report second quarter earnings per share toward the high end of its previous guidance range of $0.30 to $0.35 per share.
L Brands will conduct its second quarter earnings call at 9:00 a.m. Eastern on Aug. 23. To listen, call 1-866-363-4673 (international dial-in number: 1-973-200-3978); conference ID 7843219. For an audio replay, call 1-855-859-2056 (international replay number: 1-404-537-3406); conference ID 7843219 or log onto www.LB.com. Additional second quarter financial information is also available at www.LB.com.
ABOUT L BRANDS:
L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 3,076 company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are sold in more than 800 additional franchised locations worldwide. The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or the July sales call or made by our company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release or the July sales call or otherwise made by our company or our management:
We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release or the July sales call to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in Item 1A. Risk Factors in our 2017 Annual Report on Form 10-K.
L BRANDS
JULY 2018
Comparable Sales Increase (Decrease) (Stores and Direct):
July 2018 |
July 2017 |
Second Quarter 2018 |
Second Quarter 2017 |
Year-to- Date 2018 |
Year-to- Date 2017 |
||||||
Victoria’s Secret1 | (4%) | (10%) | (1%) | (14%) | 0% | (14%) | |||||
Bath & Body Works1 | 10% | 1% | 10% | 6% | 9% | 4% | |||||
L Brands2 | 0% | (7%) | 3% | (8%) | 3% | (9%) |
1 – Results include company-owned stores in the U.S. and Canada and direct sales.
2 – Results include company-owned stores in the U.S., Canada, the U.K. and Greater China and direct sales.
Comparable Sales Increase (Decrease) (Stores Only):
July 2018 |
July 2017 |
Second Quarter 2018 |
Second Quarter 2017 |
Year-to- Date 2018 |
Year-to- Date 2017 |
||||||
Victoria’s Secret1 | (6%) | (9%) | (5%) | (11%) | (5%) | (11%) | |||||
Bath & Body Works1 | 8% | (1%) | 7% | 4% | 6% | 2% | |||||
L Brands2 | (2%) | (7%) | (1%) | (6%) | (2%) | (7%) |
1 – Results include company-owned stores in the U.S. and Canada.
2 – Results include company-owned stores in the U.S., Canada, the U.K. and Greater China.
Total Sales (Millions):
Second Quarter 2018 |
Second Quarter 2017 |
Year- to- Date 2018 |
Year- to- Date 2017 |
||||||||
Victoria’s Secret1 | $ | 1,364.8 | $ | 1,351.0 | $ | 2,600.6 | $ | 2,597.5 | |||
Victoria’s Secret Direct | 360.0 | 295.3 | 713.6 | 581.8 | |||||||
Total Victoria’s Secret | $ | 1,724.8 | $ | 1,646.3 | $ | 3,314.2 | $ | 3,179.3 | |||
Bath & Body Works1 | $ | 824.3 | $ | 753.0 | $ | 1,472.9 | $ | 1,341.5 | |||
Bath & Body Works Direct | 139.3 | 107.3 | 251.1 | 196.9 | |||||||
Total Bath & Body Works | $ | 963.6 | $ | 860.3 | $ | 1,724.0 | $ | 1,538.4 | |||
VS & BBW International2 | $ | 145.4 | $ | 113.9 | $ | 280.6 | $ | 217.2 | |||
Other | $ | 150.0 | $ | 134.5 | $ | 290.9 | $ | 256.6 | |||
L Brands | $ | 2,983.8 | $ | 2,755.0 | $ | 5,609.7 | $ | 5,191.5 |
1 – Results include company-owned stores in the U.S. and Canada.
2 – Results include retail sales from company-owned stores outside of the U.S. and Canada, royalties associated with franchised stores and wholesale sales.
Total Company-Owned Stores:
Stores Operating at 2/3/18 |
Opened |
Closed |
Stores Operating at 8/4/18 |
|
Victoria's Secret U.S. | 984 | 1 | (5) | 980 |
PINK U.S. | 140 | - | - | 140 |
Victoria's Secret Canada | 39 | - | - | 39 |
PINK Canada | 7 | - | (1) | 6 |
Total Victoria’s Secret | 1,170 | 1 | (6) | 1,165 |
Bath & Body Works U.S. | 1,592 | 22 | (13) | 1,601 |
Bath & Body Works Canada | 102 | - | - | 102 |
Total Bath & Body Works | 1,694 | 22 | (13) | 1,703 |
Victoria’s Secret U.K./Ireland | 19 | - | - | 19 |
PINK U.K. | 5 | - | - | 5 |
Victoria’s Secret Beauty and Accessories | 29 | - | (1) | 28 |
Victoria’s Secret China | 7 | 3 | - | 10 |
Total International | 60 | 3 | (1) | 62 |
Henri Bendel | 27 | - | (4) | 23 |
La Senza U.S. | 5 | - | - | 5 |
La Senza Canada | 119 | - | (1) | 118 |
Total L Brands Stores | 3,075 | 26 | (25) | 3,076 |
Total Noncompany-Owned Stores:
Stores Operating at 2/3/18 |
Opened | Closed |
Stores Operating At 8/4/18 |
|
Victoria’s Secret Beauty & Accessories – Travel Retail | 156 | 19 | (4) | 171 |
Bath & Body Works – Travel Retail | 9 | 1 | (2) | 8 |
Victoria’s Secret Beauty & Accessories | 241 | 4 | (8) | 237 |
Victoria’s Secret | 32 | 5 | - | 37 |
PINK | 5 | 3 | - | 8 |
Bath & Body Works | 176 | 21 | (1) | 196 |
La Senza | 194 | - | (7) | 187 |
Total | 813 | 53 | (22) | 844 |