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L Brands clocks 8% sales growth in four-weeks to Aug 2
09
Aug '14
For the four weeks ending August 2, 2014, NYSE-listed L Brands, which has fashion brands like Victoria's Secret, PINK, Bath & Body Works, La Senza and Henri Bendel in its fold, reported an 8 percent hike in net sales.

L Brands posted net sales of $735.3 million in four weeks ending August 2, 2014, a hike of 8 percent against net sales of $678.4 million in the comparable period ending August 3, 2013.

Comparable store sales saw a slower growth of 6 percent in the same period.

For the 13 weeks ended August 2, 2014, it saw net sales rising by 6 percent to $2.675 billion, vis-a-vis $2.516 billion in 13 weeks ending August 3, 2013.

In the same period, it witnessed a comparable store sales increase of 3 percent.

For the first half fiscal year period ending August 2, net sales went up 6 percent to $ 5.067 billion compared to sales of $4.784 billion for 26 weeks ending August 3, 2013.

Comparable store sales rose lower by 3 percent year-on-year for the 26 weeks ending August 2, 2014.

L Brands expects to report second quarter earnings at the high end of its previous guidance of $0.57 to $0.62 per share.

This estimate includes a charge for severance of approximately $0.02 per share, which was not included in the previous guidance, L Brands said.

Fibre2fashion News Desk - India


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