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Q4FY17 operating income drops 8% at L Brands
28
Feb '17
Operating income at apparel brands marketer L Brands decreased 8 per cent to $987.6 million in the three months to January 28, 2017, as against $1.078 billion in the previous fiscal’s fourth quarter. Earnings per share for the fourth quarter of fiscal 2017 amounted to $2.18 compared to $2.15 for the fiscal quarter ended January 30, 2016.

According to L Brands, the results include a favourable tax settlement of $41.7 million, or $0.14 per share. Excluding this settlement, adjusted earnings per share declined 6 per cent to $2.03 in the reporting quarter, vis-à-vis $2.15 in the prior fiscal’s same quarter.

Net sales in the quarter under review were $4.489 billion, up 2 per cent versus $4.395 billion in the earlier fiscal’s same quarter, while comparable sales were essentially flat. (AR)

Fibre2Fashion News Desk – India
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