Home / Knowledge / News / News From the WEB / L Brands Reports October 2018 Sales; Updates Third Quarter Earnings Guidance
L Brands Reports October 2018 Sales; Updates Third Quarter Earnings Guidance
08
Nov '18

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.

Dividend
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.

(This story has not been edited by Fibre2Fashion staff and is published from a syndicated feed.)


Must ReadView All

Courtesy: Businesswire/PrimaLoft

Textiles | On 18th Nov 2018

PrimaLoft unveils PrimaLoft Bio Performance Fabric

PrimaLoft, a leader in advanced material technology, has unveiled...

Higher sales and earnings at Macy's in Q3FY18

Fashion | On 18th Nov 2018

Higher sales and earnings at Macy's in Q3FY18

Higher sales and earnings were recorded at Macy’s, one of the premier ...

Courtesy: Amazon

Apparel/Garments | On 18th Nov 2018

Amazon's new headquarters in New York City, Arlington

Amazon is setting up two new headquarters, one in New York City and...

Interviews View All

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

news category


Related Categories:
November 2018

November 2018

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search