L Brands, a US based fashion retailer, has reported 20 per cent sales decrease to $2.3 billion in its second quarter (Q2) fiscal 2020 ended on August 3, 2020 compared to the sales of $2.9 billion in same period last year. Company incurred a net loss for the quarter of $49.5 million compared to the net income of $37.5 million in Q2 FY19.
L Brands, a US based fashion retailer, has reported 20 per cent sales decrease to $2.3 billion in its second quarter (Q2) fiscal 2020 ended on August 3, 2020 compared to the sales of $2.9 billion in same period last year. Company incurred a net loss for the quarter of $49.5 million compared to the net income of $37.5 million in Q2 FY19. #
Gross profit during Q2 FY20 were $711.4 million ($982.2 million). Operating income dropped to $44.0 million ($174.6 million).
L Brands, a US based fashion retailer, has reported 20 per cent sales decrease to $2.3 billion in its second quarter (Q2) fiscal 2020 ended on August 3, 2020 compared to the sales of $2.9 billion in same period last year. Company incurred a net loss for the quarter of $49.5 million compared to the net income of $37.5 million in Q2 FY19. #
Bath & Body Works sales during the reported quarter in US and Canada grew 13 per cent to $1.2 billion ($1.0 billion). However, Victoria’s Secret sales, which remained open throughout the quarter, decline 39 per cent to $613.9 million ($373.1 million).
L Brands, a US based fashion retailer, has reported 20 per cent sales decrease to $2.3 billion in its second quarter (Q2) fiscal 2020 ended on August 3, 2020 compared to the sales of $2.9 billion in same period last year. Company incurred a net loss for the quarter of $49.5 million compared to the net income of $37.5 million in Q2 FY19. #
Company owned stores during the quarter reduced to 2,709 with closure of 228 stores while 17 new stores were opened compared to total 2,920 stores in February 2020.
Fibre2Fashion News Desk (JL)
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