L Brands Reports January 2019 Sales
February 07 2019 - 6:15AM
L Brands, Inc. (NYSE: LB) reported net sales of $780.1 million for
the four weeks ended Feb. 2, 2019, compared to net sales of $1.040
billion for the five weeks ended Feb. 3, 2018. Comparable
sales decreased 1 percent for the four weeks ended Feb. 2, 2019,
compared to the four weeks ended Feb. 3, 2018.
Net sales were $4.852 billion for the 13-week
fourth quarter ended Feb. 2, 2019, compared to $4.823 billion for
the 14 weeks ended Feb. 3, 2018. Comparable sales for the
13-week fourth quarter ended Feb. 2, 2019, increased 3 percent
compared to the 13 weeks ended Feb. 3, 2018.
Net sales were $13.237 billion for the 52-week
year ended Feb. 2, 2019, compared to $12.632 billion for the 53
weeks ended Feb. 3, 2018. Comparable sales for the 52 weeks ended
Feb. 2, 2019, increased 3 percent compared to the 52 weeks ended
Feb. 3, 2018.
The company also announced the declaration of
its regular quarterly dividend of $0.30 per share payable on March
8, 2019 to shareholders of record at the close of business on Feb.
22, 2019. This is the company’s 177th consecutive quarterly
dividend.
To hear further commentary provided on L Brands’
prerecorded January 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 and Bath & Body Works, is an
international company. The company operates 2,943
company-owned specialty stores in the United States, Canada, the
United Kingdom and Greater China, and its brands are also sold in
more than 650 franchised locations worldwide. The company’s
products are also available online at www.VictoriasSecret.com and
www.BathandBodyWorks.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 January
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
January 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 January 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: |
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 |
|
JANUARY 2019 |
|
|
|
Comparable Sales Increase (Decrease) (Stores and
Direct): |
|
|
|
|
Jan.2019 |
|
Jan.2018 |
|
Fourth Quarter2018 |
|
FourthQuarter2017 |
|
Year2018 |
|
Year2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Victoria’s Secret1 |
(1 |
%) |
|
4 |
% |
|
(3 |
%) |
|
(1 |
%) |
|
(2 |
%) |
|
(8 |
%) |
|
Bath & Body
Works1 |
0 |
% |
|
13 |
% |
|
12 |
% |
|
6 |
% |
|
11 |
% |
|
5 |
% |
|
L
Brands2 |
(1 |
%) |
|
7 |
% |
|
3 |
% |
|
2 |
% |
|
3 |
% |
|
(3 |
%) |
|
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): |
|
|
|
|
Jan.2019 |
|
Jan.2018 |
|
Fourth Quarter2018 |
|
FourthQuarter2017 |
|
Year2018 |
|
Year2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Victoria’s Secret1 |
(8 |
%) |
|
0 |
% |
|
(7 |
%) |
|
(6 |
%) |
|
(6 |
%) |
|
(8 |
%) |
|
Bath & Body
Works1 |
(4 |
%) |
|
9 |
% |
|
8 |
% |
|
4 |
% |
|
8 |
% |
|
2 |
% |
|
L
Brands2 |
(7 |
%) |
|
2 |
% |
|
(1 |
%) |
|
(2 |
%) |
|
(1 |
%) |
|
(4 |
%) |
|
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 Sales (Millions): |
|
|
FourthQuarter 2018(13 weeks) |
|
FourthQuarter 2017(14 weeks) |
|
Year2018(52 weeks) |
|
Year2017(53 weeks) |
|
|
|
|
|
|
|
|
Victoria’s Secret1 |
$ |
1,849.3 |
|
$ |
2,038.3 |
|
$ |
5,627.9 |
|
$ |
5,878.9 |
Victoria’s Secret
Direct |
|
682.5 |
|
|
630.6 |
|
|
1,747.0 |
|
|
1,508.3 |
Total Victoria’s
Secret |
$ |
2,531.8 |
|
$ |
2,668.9 |
|
$ |
7,374.9 |
|
$ |
7,387.2 |
Bath & Body
Works1 |
$ |
1,626.1 |
|
$ |
1,544.6 |
|
$ |
3,907.2 |
|
$ |
3,589.2 |
Bath & Body Works
Direct |
|
324.7 |
|
|
249.1 |
|
|
723.8 |
|
|
558.7 |
Total Bath &
Body Works |
$ |
1,950.8 |
|
$ |
1,793.7 |
|
$ |
4,631.0 |
|
$ |
4,147.9 |
VS & BBW
International2 |
$ |
190.7 |
|
$ |
170.3 |
|
$ |
605.3 |
|
$ |
502.4 |
Other |
$ |
179.0 |
|
$ |
190.2 |
|
$ |
625.7 |
|
$ |
594.9 |
L
Brands |
$ |
4,852.3 |
|
$ |
4,823.1 |
|
$ |
13,236.9 |
|
$ |
12,632.4 |
1 – Results include company-owned stores in the
U.S. and Canada.2 – Results include retail sales from company-owned
stores outside of the U.S. and Canada, royalties associated with
franchised stores and wholesale sales.
|
Total Company-Owned Stores: |
|
|
Stores |
|
|
|
Stores |
|
|
Operating |
|
|
|
Operating |
|
|
at 2/3/18 |
Opened |
Closed |
Sold |
at 2/2/19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Victoria's Secret
U.S. |
|
984 |
2 |
(29 |
) |
- |
|
957 |
PINK U.S. |
|
140 |
1 |
- |
|
- |
|
141 |
Victoria's Secret
Canada |
|
39 |
- |
- |
|
- |
|
39 |
PINK Canada |
|
7 |
- |
(1 |
) |
- |
|
6 |
Total Victoria’s
Secret |
|
1,170 |
3 |
(30 |
) |
- |
|
1,143 |
|
|
|
|
|
|
|
Bath & Body Works
U.S. |
|
1,592 |
54 |
(27 |
) |
- |
|
1,619 |
Bath & Body Works
Canada |
|
102 |
1 |
(1 |
) |
- |
|
102 |
Total Bath &
Body Works |
|
1,694 |
55 |
(28 |
) |
- |
|
1,721 |
|
|
|
|
|
|
|
Victoria’s Secret
U.K./Ireland |
|
19 |
2 |
- |
|
- |
|
21 |
PINK U.K. |
|
5 |
- |
- |
|
- |
|
5 |
Victoria’s Secret
Beauty and Accessories |
|
29 |
13 |
(4 |
) |
- |
|
38 |
Victoria’s Secret
China |
|
7 |
8 |
- |
|
- |
|
15 |
Total
International |
|
60 |
23 |
(4 |
) |
- |
|
79 |
|
|
|
|
|
|
|
Henri Bendel |
|
27 |
- |
(27 |
) |
- |
|
- |
La Senza U.S.1 |
|
5 |
7 |
- |
|
(12 |
) |
- |
La Senza Canada1 |
|
119 |
- |
(1 |
) |
(118 |
) |
- |
Total L Brands
Stores |
|
3,075 |
88 |
(90 |
) |
(130 |
) |
2,943 |
1 – Stores were sold to an affiliate of Regent
LP on Jan. 6, 2019.
|
|
Total Noncompany-Owned Stores: |
|
|
|
Stores |
|
|
|
|
Stores |
|
|
|
Operating |
|
|
|
|
Operating |
|
|
|
at 2/3/18 |
Opened |
Closed |
Sold |
At 2/2/19 |
|
|
|
|
|
|
|
|
|
Victoria’s Secret
Beauty & Accessories – Travel Retail |
|
156 |
26 |
(18 |
) |
- |
|
164 |
|
Bath & Body Works –
Travel Retail |
|
9 |
5 |
(2 |
) |
- |
|
12 |
|
Victoria’s Secret
Beauty & Accessories |
|
241 |
6 |
(28 |
) |
- |
|
219 |
|
Victoria’s Secret |
|
32 |
15 |
- |
|
- |
|
47 |
|
PINK |
|
5 |
4 |
- |
|
- |
|
9 |
|
Bath & Body
Works |
|
176 |
51 |
(4 |
) |
- |
|
223 |
|
La Senza1 |
|
194 |
2 |
(17 |
) |
(179 |
) |
- |
|
Total |
|
813 |
109 |
(69 |
) |
(179 |
) |
674 |
|
|
|
|
|
|
|
|
1 – Stores were sold to an affiliate of Regent
LP on Jan. 6, 2019.
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