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L Brands' net sales fall 7% in Q1 2017
21 May '17
1 min read
The net sales of American fashion retailer L Brands for Q1 2017 fell 7 per cent with a total of $2.437 billion as against $2.614 billion for Q1 2016. Similarly, the comparable sales for Q1 2017 also decreased 9 per cent. For the first quarter, the exit of swim and apparel categories had a negative impact of 6 percentage points to company comparable sales.
Earnings per share for the first quarter ended April 29, 2017 were $0.33 compared to $0.52 for the first quarter ended on April 30, 2016. First quarter operating income was $209.2 million compared to $323.4 million last year. The net income for the first quarter of 2017 was $94.1 million compared to $152.3 million for the same period of last year.
Adjusted first quarter earnings per share were $0.33compared to $0.59 last year, adjusted operating income was $209.2 million compared to $357.9 million last year, and adjusted net income was $94.1 million compared to $173.7 million last year. (RR)
Fibre2Fashion News Desk – India
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