Sales in 48 weeks to Dec 31 at L Brands rises 4%
January 09, 2017 - United States Of America
Net sales for the 48 week period ended December 31, 2016, at retailer of intimates and apparel brands L Brands, grew 4 per cent to $11.769 billion as against net sales of $11.343 billion for the 48 weeks ended January 2, 2016. However, comparable sales at the global retailer rose slower at 2 per cent in the reporting period.
For the five weeks ended December 31, 2016, nets sales climbed 1 per cent to $2.438 billion vis-à-vis $2.415 billion for the five weeks ended January 2, 2016. In the same period, comparable sales declined 1 per cent.
L Brands which manages brands like Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, now expects fourth fiscal quarter earnings per share to be towards the lower end of its previous guidance of $1.85 to $2.00. (AR)