The company reported net sales of $10.042 billion for the 48 weeks ended Jan. 4, 2014, an increase of 6 percent compared to net sales of $9.472 billion for the 48 weeks ended Dec. 29, 2012. The company reported a comparable store sales increase of 2 percent for the 48 weeks ended Jan. 4, 2014, compared to the 48 weeks ended Jan. 5, 2013.
The company now expects fourth quarter earnings per share of approximately $1.60, compared to its previous forecast of $1.67 to $1.82. The decrease versus its previous forecast is primarily the result of lower than forecasted merchandise margins due to incremental promotional activity.
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 2,659 specialty stores in the United States and its brands are sold in about 800 company-operated and franchised additional locations world-wide.
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