United States Of America : Net sales increase 7% in Q3 at L Brands

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Net sales increase 7% in Q3 at L Brands

20
Nov '15

L Brands, a US based fashion retailer for branded lingerie and apparel, recorded a rise of 7 per cent in its net sales for the third quarter ending October 31, 2015 to $2.482 billion as compared to the net sales of $2.319 billion for the corresponding quarter last year, according to a press release issued by the company.

Earnings per share increased by a record 25 per cent for the quarter to $0.55 as compared to $0.44 in the corresponding quarter last year. Net income for the quarter was $164 million as compared to $131.8 million in the corresponding quarter last year.

Commenting on the results, Leslie Wexner, chairman and CEO of L Brands said, “We delivered record results in the third quarter. Our brands are differentiated and have a high emotional content. We are pleased with our month-to-date performance and we are well-positioned for the most significant part of our year which is in front of us.”

For the next quarter, the company expects the earnings per share to be between $1.85 and $1.95. It also raised its adjusted full-year earnings forecast to $3.69 to $3.79 per share from the previous forecast of $3.58 to $3.73, the release said. (MCJ)

Fibre2Fashion News Desk — India

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