L Brands Reports October 2015 Sales and Reiterates Previously Raised Third Quarter Earnings Guidance
November 05 2015 - 6:15AM
L Brands, Inc. (NYSE:LB) reported net sales of $735.6 million for
the four weeks ended Oct. 31, 2015, an increase of 5 percent,
compared to net sales of $700.0 million for the four weeks ended
Nov. 1, 2014. Comparable store sales increased 5 percent for
the four weeks ended Oct. 31, 2015.
The company reported net sales of $2.482 billion
for the 13 weeks ended Oct. 31, 2015, an increase of 7 percent
compared to net sales of $2.319 billion for the 13 weeks ended Nov.
1, 2014. Comparable store sales increased 7 percent for the
13 weeks ended Oct. 31, 2015.
The company reported net sales of $7.759 billion
for the 39 weeks ended Oct. 31, 2015, an increase of 5 percent
compared to net sales of $7.385 billion for the 39 weeks ended Nov.
1, 2014. Comparable store sales increased 5 percent for the
39 weeks ended Oct. 31, 2015.
As previously announced, the company now expects
third quarter earnings per share between $0.51 and $0.53, versus
its previous guidance of $0.40 to $0.45 and last year’s result of
$0.44. The company will provide fourth quarter earnings
guidance when it reports third quarter earnings after the close of
the market on Nov. 18. The company will conduct its third
quarter earnings call at 9 a.m. Eastern on Nov. 19.
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
3,003 company-owned specialty stores in the United States, Canada
and the United Kingdom, and its brands are sold in more than 700
additional noncompany-owned locations worldwide. The
company’s products are also available online at
www.VictoriasSecret.com, www.BathandBodyWorks.com,
www.HenriBendel.com and www.LaSenza.com.
Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995
L Brands, Inc. cautions 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 October sales
call 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 October sales call:
- general economic conditions, consumer confidence, consumer
spending patterns and market disruptions including severe weather
conditions, natural disasters, health hazards, terrorist
activities, financial crises, political crises or other major
events, or the prospect of these events;
- the seasonality of our business;
- the dependence on a high volume of mall traffic and the
availability of suitable store locations on appropriate terms;
- our ability to grow through new store openings and existing
store remodels and expansions;
- our ability to successfully expand into global markets and
related risks;
- our relationships with independent franchise, license and
wholesale partners;
- our direct channel businesses;
- our failure to protect our reputation and our brand
images;
- our failure to protect our trade names, trademarks and
patents;
- the highly competitive nature of the retail industry generally
and the segments in which we operate particularly;
- consumer acceptance of our products and our ability to keep up
with fashion trends, develop new merchandise and launch new product
lines successfully;
- our ability to source, distribute and sell goods and materials
on a global basis, including risks related to:
- political instability;
- duties, taxes and other charges;
- legal and regulatory matters;
- volatility in currency exchange rates;
- local business practices and political issues;
- potential delays or disruptions in shipping and transportation
and related pricing impacts;
- disruption due to labor disputes; and
- changing expectations regarding product safety due to new
legislation;
- fluctuations in foreign currency exchange rates;
- stock price volatility;
- our failure to maintain our credit rating;
- our ability to service or refinance our debt;
- our ability to retain key personnel;
- our ability to attract, develop and retain qualified employees
and manage labor-related costs;
- the inability of our manufacturers to deliver products in a
timely manner and meet quality standards;
- fluctuations in product input costs;
- fluctuations in energy costs;
- increases in the costs of mailing, paper and printing;
- claims arising from our self-insurance;
- our ability to implement and maintain information technology
systems and to protect associated data;
- our failure to maintain the security of customer, associate,
supplier or company information;
- our failure to comply with regulatory requirements;
- tax matters; and
- legal and compliance matters.
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
October sales call to reflect circumstances existing after the date
of this press release or the October sales call 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 2014 Annual Report on Form 10-K.
L BRANDS |
OCTOBER 2015 |
|
Comparable Store Sales Increase (Decrease): |
|
|
Oct.2015 |
|
Oct.2014 |
|
Third Quarter
2015 |
|
Third Quarter
2014 |
|
Year-to-Date2015 |
|
Year-to-Date2014 |
Victoria’s Secret1 |
|
5 |
% |
|
|
0 |
% |
|
|
7 |
% |
|
|
3 |
% |
|
|
5 |
% |
|
|
3 |
% |
Bath & Body
Works1 |
|
5 |
% |
|
|
5 |
% |
|
|
6 |
% |
|
|
7 |
% |
|
|
5 |
% |
|
|
4 |
% |
L
Brands |
|
5 |
% |
|
|
3 |
% |
|
|
7 |
% |
|
|
5 |
% |
|
|
5 |
% |
|
|
3 |
% |
Victoria’s
Secret Direct Sales |
|
7 |
% |
|
|
(7 |
%) |
|
|
4 |
% |
|
|
2 |
% |
|
|
(2 |
%) |
|
|
0 |
% |
1 – Results include company-owned stores in the United States
and Canada.
Total
Sales (Millions): |
|
|
|
|
|
|
|
|
|
Third Quarter 2015 |
|
Third Quarter 2014 |
|
Year-to-Date 2015 |
|
Year-to-Date 2014 |
|
|
|
|
|
|
|
|
Victoria’s Secret
Stores1 |
$ |
1,282.1 |
|
|
$ |
1,177.6 |
|
|
$ |
4,065.3 |
|
|
$ |
3,785.9 |
|
Victoria’s Secret
Direct |
|
285.4 |
|
|
|
274.7 |
|
|
|
992.5 |
|
|
|
1,015.4 |
|
Total Victoria’s Secret |
$ |
1,567.5 |
|
|
$ |
1,452.3 |
|
|
$ |
5,057.8 |
|
|
$ |
4,801.3 |
|
Bath & Body
Works1 |
$ |
637.2 |
|
|
$ |
602.7 |
|
|
$ |
1,863.2 |
|
|
$ |
1,771.1 |
|
Bath & Body Works
Direct |
|
68.3 |
|
|
|
56.7 |
|
|
|
203.8 |
|
|
|
174.5 |
|
Total Bath & Body Works |
$ |
705.5 |
|
|
$ |
659.4 |
|
|
$ |
2,067.0 |
|
|
$ |
1,945.6 |
|
VS & BBW
International2 |
$ |
92.8 |
|
|
$ |
80.0 |
|
|
$ |
273.0 |
|
|
$ |
230.4 |
|
Other3 |
$ |
115.8 |
|
|
$ |
127.2 |
|
|
$ |
361.0 |
|
|
$ |
408.1 |
|
L
Brands |
$ |
2,481.6 |
|
|
$ |
2,318.9 |
|
|
$ |
7,758.8 |
|
|
$ |
7,385.4 |
|
1 – Results include company-owned stores in the United States
and Canada.2 – Results include retail sales from company-owned
stores outside of the United States and Canada and royalty and
wholesale sales associated with partner-operated stores.3 – Results
include La Senza, Henri Bendel and Mast external sales.
Total Company-Owned Stores: |
|
|
|
|
|
|
|
Stores |
|
Stores |
|
|
Operating |
Operating |
|
|
at 1/31/15 |
Opened |
Closed |
at 10/31/15 |
|
|
|
|
|
|
Victoria's Secret
U.S. |
|
983 |
9 |
|
(3 |
) |
989 |
PINK U.S. |
|
115 |
15 |
|
(3 |
) |
127 |
Victoria's Secret
Canada |
|
31 |
4 |
|
- |
|
35 |
PINK Canada |
|
10 |
- |
|
- |
|
10 |
Total Victoria’s Secret |
|
1,139 |
28 |
|
(6 |
) |
1,161 |
|
|
|
|
|
|
Bath & Body Works
U.S. |
|
1,558 |
19 |
|
(4 |
) |
1,573 |
Bath & Body Works
Canada |
|
88 |
10 |
|
- |
|
98 |
Total Bath & Body Works |
|
1,646 |
29 |
|
(4 |
) |
1,671 |
|
|
|
|
|
|
Victoria’s Secret
U.K. |
|
8 |
- |
|
- |
|
8 |
PINK U.K. |
|
2 |
- |
|
- |
|
2 |
Henri Bendel |
|
29 |
- |
|
- |
|
29 |
La Senza Canada |
|
145 |
1 |
|
(14 |
) |
132 |
Total L Brands
Stores |
|
2,969 |
58 |
|
(24 |
) |
3,003 |
Total Noncompany-Owned Stores: |
|
|
|
|
|
|
|
Stores |
|
Stores |
|
|
Operating |
Operating |
|
|
at 1/31/15 |
Opened |
Closed |
at 10/31/15 |
|
|
|
|
|
|
Victoria’s Secret Beauty
& Accessories |
|
290 |
57 |
|
(5 |
) |
342 |
Victoria’s Secret |
|
13 |
2 |
|
- |
|
15 |
PINK |
|
1 |
2 |
|
- |
|
3 |
Bath & Body Works |
|
80 |
32 |
|
(2 |
) |
110 |
La Senza |
|
266 |
3 |
|
(37 |
) |
232 |
Total |
|
650 |
96 |
|
(44 |
) |
702 |
|
|
|
|
|
|
For further information, please contact:
L Brands:
Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com
Media Relations
Tammy Roberts Myers
(614) 415-7072
communications@lb.com
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