Home / Knowledge / News / Apparel/Garments / Q4FY16 net sales at apparel marker L Brands up 8%
Q4FY16 net sales at apparel marker L Brands up 8%
08
Feb '16
Net sales for the fourth fiscal quarter ended January 30, 2016 at L Brands went up 8 per cent year over year to reach $4.395 billion, while comparable store sales grew 6 per cent.

“Net sales for full fiscal 2016 totaled $12.154 billion, a year on year increase of 6 per cent, while comparable store sales for the fiscal rose 5 per cent,” L Brands stated, while announcing interim results.

Net sales for the four-week period ended January 30, 2016, were $811.3 million, an increase of 4 per cent over the fiscal ago period at $783.1 million and comparable store sales declined 2 per cent.

“January sales results were negatively impacted by a timing shift in the Victoria's Secret semi-annual sale into December,” the apparel marketer said.

“Absent the estimated impact of this timing shift, total company comps would have risen 1 per cent in the four-week period,” it explained.

The company expects to report fourth quarter earnings per share of about $2.05, above its previous guidance of $1.85 to $1.95.

L Brands is increasing its annual ordinary dividend by 20 per cent to $2.40 per share from $2.00 per share and in addition, announced a special dividend of $2.00 per share.

The quarterly ordinary dividend of $0.60 per share and the $2.00 special dividend will be paid on March 4, 2016, to shareholders of record on February 19, 2016.

Additionally, the company has authorised a new $500 million share repurchase program, which includes the remaining $17 million outstanding under the previous program.

The company repurchased $483 million of stock in 2015 and repurchases will be made at the times, in the amounts and in the manner that the company believes appropriate.

CEO Leslie Wexner said, “We achieved our best year ever in 2015 and I am very appreciative of the focus on our customers, the excellent execution and teamwork across the enterprise that drove this result.”

“The dividend and share repurchase actions announced; reflect confidence in our growth opportunities and commitment to delivering shareholder value,” Wexner too added.

L Brands, through Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel operates 3,005 company-owned stores in the US, Canada and the UK and its brands are sold in other 700 locations worldwide. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Warangal textile park gets environment clearance

The Kakatiya Mega Textile Park, coming up in Warangal district of...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X