L Brands Reports March 2018 Sales
April 12 2018 - 6:15AM
L Brands, Inc. (NYSE:LB) reported net sales increased 7 percent to
$1.020 billion for the five weeks ended April 7, 2018,
compared to net sales of $951.4 million for the five weeks ended
April 1, 2017. Comparable sales for the five weeks ended
April 7, 2018, increased 4 percent compared to the five-week period
ended April 8, 2017.
The company reported net sales of $1.874 billion
for the nine weeks ended April 7, 2018, an increase of 9 percent
compared to sales of $1.717 billion for the nine weeks ended April
1, 2017. Comparable sales for the nine weeks ended April 7,
2018, increased 3 percent compared to the nine-week period ended
April 8, 2017.
To hear further commentary provided on L Brands’
prerecorded March 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 3,067 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. 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
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 March
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
March sales call or otherwise made by our company or our
management:
- 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 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 internationally and related
risks;
- our independent franchise, license and wholesale partners;
- our direct channel businesses;
- our ability to protect our reputation and our brand
images;
- our ability to attract customers with marketing, advertising
and promotional programs;
- our ability to protect our trade names, trademarks and
patents;
- the highly competitive nature of the retail industry and the
segments in which we operate;
- consumer acceptance of our products and our ability to manage
the life cycle of our brands, 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, significant health hazards,
environmental hazards or natural disasters;
- 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;
- our geographic concentration of vendor and distribution
facilities in central Ohio;
- fluctuations in foreign currency exchange rates;
- stock price volatility;
- our ability to pay dividends and related effects;
- our ability 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 associates
and manage labor-related costs;
- the ability of our vendors to deliver products in a timely
manner, meet quality standards and comply with applicable laws and
regulations;
- fluctuations in product input costs;
- our ability to adequately protect our assets from loss and
theft;
- 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 ability to maintain the security of customer, associate,
third-party or company information;
- our ability to comply with regulatory requirements;
- legal and compliance matters; and
- tax, trade and other regulatory 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 March 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.
For further information, please
contact:
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L Brands: |
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Investor Relations |
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Media Relations |
Amie Preston |
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Tammy Roberts
Myers |
(614) 415-6704 |
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(614) 415-7072 |
apreston@lb.com
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communications@lb.com |
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L BRANDS |
MARCH 2018 |
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Comparable Sales Increase (Decrease) (Stores and
Direct): |
|
|
March2018 |
|
March2017 |
|
Year-to-Date2018 |
|
Year-to-Date2017 |
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|
Victoria’s Secret1 |
1 |
% |
|
(13 |
%) |
|
2 |
% |
|
(15 |
%) |
Bath & Body
Works1 |
10 |
% |
|
0 |
% |
|
9 |
% |
|
(2 |
%) |
L
Brands2 |
4 |
% |
|
(10 |
%) |
|
3 |
% |
|
(11 |
%) |
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):
|
|
March2018 |
|
March2017 |
|
Year-to-Date2018 |
|
Year-to-Date2017 |
|
|
|
|
|
|
|
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Victoria’s Secret1 |
(3 |
%) |
|
(12 |
%) |
|
(4 |
%) |
|
(14 |
%) |
Bath & Body
Works1 |
9 |
% |
|
(3 |
%) |
|
7 |
% |
|
(4 |
%) |
L
Brands2 |
0 |
% |
|
(9 |
%) |
|
(1 |
%) |
|
(11 |
%) |
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|
|
|
|
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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:
|
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Stores |
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Stores |
|
|
Operating |
|
Operating |
|
|
at 2/3/18 |
Opened |
Closed |
at 4/7/18 |
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Victoria's Secret
U.S. |
|
984 |
1 |
(2 |
) |
983 |
PINK U.S. |
|
140 |
- |
- |
|
140 |
Victoria's Secret
Canada |
|
39 |
- |
- |
|
39 |
PINK Canada |
|
7 |
- |
(1 |
) |
6 |
Total Victoria’s
Secret |
|
1,170 |
1 |
(3 |
) |
1,168 |
|
|
|
|
|
|
Bath & Body Works
U.S. |
|
1,592 |
5 |
(8 |
) |
1,589 |
Bath & Body Works
Canada |
|
102 |
- |
- |
|
102 |
Total Bath &
Body Works |
|
1,694 |
5 |
(8 |
) |
1,691 |
|
|
|
|
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Victoria’s Secret
U.K./Ireland |
|
19 |
- |
- |
|
19 |
PINK U.K. |
|
5 |
- |
- |
|
5 |
Victoria’s Secret
Beauty and Accessories |
|
29 |
- |
- |
|
29 |
Victoria’s Secret
China |
|
7 |
- |
- |
|
7 |
Total VS &
BBW International |
|
60 |
- |
- |
|
60 |
|
|
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Henri Bendel |
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27 |
- |
(3 |
) |
24 |
La Senza U.S. |
|
5 |
- |
- |
|
5 |
La Senza Canada |
|
119 |
- |
- |
|
119 |
Total L Brands
Stores |
|
3,075 |
6 |
(14 |
) |
3,067 |
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