COLUMBUS, Ohio, Nov. 08, 2018 (GLOBE NEWSWIRE) L Brands, Inc. (NYSE: LB) reported net sales of $860.5 million for the four weeks ended Nov. 3, 2018, an increase of 8 percent, compared to net sales of $794.1 million for the four weeks ended Oct. 28, 2017. Comparable sales increased 4 percent for the four weeks ended Nov. 3, 2018 compared to Nov. 4, 2017.
The company reported net sales of $2.775 billion for the 13 weeks ended Nov. 3, 2018, an increase of 6 percent, compared to net sales of $2.618 billion for the 13 weeks ended Oct. 28, 2017. Comparable sales increased 4 percent for the 13 weeks ended Nov. 3, 2018 compared to the 13 weeks ended Nov. 4, 2017.
The company reported net sales of $8.385 billion for the 39 weeks ended Nov. 3, 2018, an increase of 7 percent, compared to net sales of $7.809 billion for the 39 weeks ended Oct. 28, 2017. Comparable sales increased 3 percent for the 39 weeks ended Nov. 3, 2018 compared to the 39 weeks ended Nov. 4, 2017.
The company expects to report a third quarter loss per share of approximately $0.17. The reported loss per share includes a total charge of approximately $0.32 per share, which consists of an approximate pretax cash charge of $20 million related to the closure of its Henri Bendel business, and an approximate pretax non-cash impairment charge of $80 million related to certain Victoria’s Secret store assets. Excluding these charges, the company expects adjusted third quarter earnings per share to be approximately $0.15, compared to its previous guidance of $0.00 to $0.05, principally driven by outperformance at Bath & Body Works. The company will conduct its third quarter earnings call at 9 a.m. Eastern on Nov. 20.
The company also announced the declaration of its regular quarterly dividend of $0.60 per share payable on Dec. 7, 2018 to shareholders of record at the close of business on Nov. 23, 2018. This is the company’s 176th consecutive quarterly dividend.
To hear further commentary provided on L Brands’ prerecorded October sales message, call 1-866-639-7583, or log onto www.LB.com for an audio replay.
ABOUT L BRANDS:
L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 3,109 company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are sold in more than 800 additional franchised locations worldwide.
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