Home / Knowledge / News / Apparel/Garments / L Brands reports drop in Q4 FY'14 EPS
L Brands reports drop in Q4 FY'14 EPS
27
Feb '14
L Brands, Inc. reported 2013 fourth quarter and full-year results.
 
Fourth Quarter results:
Earnings per share for the 13-week fourth quarter ended Feb. 1, 2014, were $1.65 compared to adjusted earnings per share of $1.76 for the 14-week fourth quarter ended Feb. 2, 2013.  Adjusted earnings per share for the prior year on a 13-week basis were approximately $1.68.  
 
Fourth quarter operating income was $863.5 million (13 weeks) compared to an adjusted $907.8 million last year (14 weeks).  Excluding the extra week last year, operating income dollars were roughly flat year over year.  Net income was $489.6 million (13 weeks) compared to an adjusted $519.2 million last year (14 weeks).
 
Including the significant items in 2012 below, reported fourth quarter earnings per share were $1.65 (13 weeks) compared to $1.39 last year (14 weeks); operating income was $863.5 million (13 weeks) compared to $787.8 million last year (14 weeks); and net income was $489.6 million (13 weeks) compared to $411.4 million last year (14 weeks).
 
Significant items are as follows:
- In 2012 (totaling to a charge of $0.37 per share):
- A pre-tax, non-cash charge of $93.2 million, or $0.31 per share, related to intangible asset impairment at La Senza; and
- A pre-tax, non-cash charge of $26.9 million, or $0.06 per share, related to store fixed asset impairment at Henri Bendel.
- Comparable store sales for the 13-week fourth quarter ended Feb. 1, 2014, increased 1% compared to the 13 weeks ended Feb. 2, 2013.  Net sales were $3.818 billion for the 13-week fourth quarter ended Feb. 1, 2014, compared to $3.856 billion for the 14 weeks ended Feb. 2, 2013. 
 
Full-Year Results
Earnings per share for the 52-week year ended Feb. 1, 2014, were $3.05 compared to adjusted earnings per share of $2.92 for the 53-week year ended Feb. 2, 2013.  Earnings per share for the full year increased 7% compared to adjusted earnings per share for the prior year on a 52-week basis of approximately $2.84.  
 
Operating income was $1.743 billion (52 weeks) in 2013 compared to adjusted operating income of $1.707 billion in 2012 (53 weeks). Excluding the extra week last year, operating income dollars increased by approximately 5% for the full year 2013.  Net income was $903.0 million (52 weeks) compared to adjusted net income of $866.7 million in 2012 (53 weeks).
 
Including significant items, reported 2013 52-week full-year earnings per share were $3.05 compared to $2.54 for the 53-week 2012; operating income was $1.743 billion (52 weeks) compared to $1.573 billion in 2012 (53 weeks); and net income was $903.0 million (52 weeks) compared to $753.0 million in 2012 (53 weeks).
 
Click here to view full results.
 
 

L Brands


Interviews View All

Amardeep Singh, Orient Craft

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Rushiraj Mulani,

Rushiraj Mulani

The Shradhdha Group of companies was established in 2010 and is based out...

Fiorella Cattelan,

Fiorella Cattelan

With flexibility and versatility, Dettin strives to meet the specific...

DP Kumar,

DP Kumar

Weaves is South India's premier textile fair organised by Texvalley in...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search