Home / Knowledge / News / Apparel/Garments / Q4FY15 sales up 7% at apparel marketer L Brands
Q4FY15 sales up 7% at apparel marketer L Brands
10
Feb '15
In preliminary estimates, marketer of intimates’ iconic brand Victoria Secret, L Brands said its net sales for the fourth quarter rose 7 per cent year on year for the fourth fiscal quarter ended January 31, 2015.

Net sales for the fourth quarter of fiscal 2105 totaled $4.069 billion, up 7 per cent compared to $3.818 billion for the same quarter of fiscal 2014, while comparable store sales rose slower by 6 per cent.

L Brand reported sales hike of 6 per cent year on year to $11.45 billion in fiscal 2015, while here too, comparable stores sales for the fiscal year increased slower by 4 per cent.

For the four-week period ended January 31, 2015, the apparel marketer reported net sales of $783.1 million, an increase of 7 per cent from four-week period ended February 1, 2014.

L Brands expects to report fourth quarter earnings per share between $1.78 and $1.80, above its previous guidance of $1.61 to $1.71.

The company is increasing its annual ordinary dividend by 47 per cent to $2.00 per share from $1.36 per share. In addition, L Brands announced a special dividend of $2.00 per share.

It said the quarterly ordinary dividend of $0.50 per share and the $2.00 special dividend will be paid on March 6, 2015, to shareholders of record on February 20, 2015.

Additionally, it has authorised a new $250 million share repurchase program, which includes the remaining $91 million outstanding under the previous program.

The clothing marketer repurchased $84 million of stock in 2014 and said; repurchases will be made at the times, in the amounts and in the manner that the company believes appropriate.

CEO Leslie Wexner said, "I am very proud and appreciative of the team's focus and the disciplined execution in our business, which drove record performance in 2014.”

“The dividend and share repurchase actions announced today reflect confidence in our growth opportunities and commitment to delivering shareholder value," she added.

L Brands will report fourth quarter results and provide 2015 earnings guidance on its earnings call, which will be held on February 26, 2015.

L Brands manages and markets brands like Victoria's Secret, PINK, Bath & Body Works, La Senza and Henri Bendel and operates 2,969 company-owned specialty stores in the US, Canada and UK. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 10th Jul 2020

US, Kenya launch negotiations for free trade agreement

United States trade representative Robert Lighthizer and Kenya...

Pic: Shutterstock

E-commerce | On 10th Jul 2020

Commonwealth, ILO join partnership for inclusive e-com

The global 'eTrade for All' initiative, which aims at making digital...

Pic: Nike

E-commerce | On 10th Jul 2020

Nike Rise unveiled in Guangzhou as new store concept

Nike recently introduced Nike Rise, a first-of-its-kind store...

Interviews View All

Cindy McNaull, Cordura

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Nishank Patel, Shri Dinesh Mills Limited

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

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


July 2020

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


Advanced Search