COLUMBUS, Ohio, Jan. 10, 2019 (GLOBE NEWSWIRE) L Brands, Inc. (NYSE: LB) reported net sales of $2.477 billion for the five weeks ended Jan. 5, 2019, compared to net sales of $2.516 billion for the five weeks ended Dec. 30, 2017. Comparable sales were flat for the five weeks ended Jan. 5, 2019, compared to the five weeks ended Jan. 6, 2018.
The company reported net sales of $12.457 billion for the 48 weeks ended Jan. 5, 2019, compared to net sales of $11.592 billion for the 48 weeks ended Dec. 30, 2017. Comparable sales increased 3 percent for the 48 weeks ended Jan. 5, 2019, compared to the 48 weeks ended Jan. 6, 2018.
The company expects to report adjusted fourth quarter earnings per share towards the higher end of its previous guidance of $1.90 to $2.10, not including a preliminary estimated pretax charge, principally non-cash, related to the sale of La Senza of approximately $80 million, or $0.15 per share. The company closed on the previously announced sale of the La Senza business to an affiliate of Regent LP on Jan. 6, 2019.
ABOUT L BRANDS:
L Brands, through Victoria’s Secret, PINK, Bath & Body Works and Henri Bendel, is an international company. The company operates company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are also sold in franchised locations worldwide. The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com and www.HenriBendel.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or the December sales call or made by our company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release or the December sales call or otherwise made by our company or our management:
We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release or the December sales call to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in Item 1A. Risk Factors in our 2017 Annual Report on Form 10-K.
|Comparable Sales Increase (Decrease) (Stores and Direct):|
|Bath & Body Works1||11%||4%||12%||4%|
1 – Results include company-owned stores in the U.S. and Canada and direct sales.
2 – Results include company-owned stores in the U.S., Canada, the U.K. and Greater China and direct sales.
|Comparable Sales Increase (Decrease) (Stores Only):|
|Bath & Body Works1||7%||2%||8%||2%|
1 – Results include company-owned stores in the U.S. and Canada.
2 – Results include company-owned stores in the U.S., Canada, the U.K. and Greater China.
|Total Company-Owned Stores:|
|at 2/3/18||Opened||Closed||at 1/5/19|
|Victoria's Secret U.S.||984||2||(8)||978|
|Victoria's Secret Canada||39||-||-||39|
|Total Victoria’s Secret||1,170||3||(9||1,164|
|Bath & Body Works U.S.||1,592||54||(19)||1,627|
|Bath & Body Works Canada||102||1||-||103|
|Total Bath & Body Works||1,694||55||(19)||1,730|
|Victoria’s Secret U.K./Ireland||19||2||-||21|
|Victoria’s Secret Beauty and Accessories||29||8||(4)||33|
|Victoria’s Secret China||7||8||-||15|
|La Senza U.S.2||5||7||-||12|
|La Senza Canada2||119||-||(1)||118|
|Total L Brands Stores||3,075||83||(37)||3,121|
1 – As previously announced, all stores are expected to be closed by Feb. 2, 2019.
2 – Stores were sold to an affiliate of Regent LP on Jan. 6, 2019.
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