- Prachi Singh |
L Brands reported net sales of 2.516 billion dollars for the five weeks ended December 30, 2017, an increase of 3 percent, compared to net sales of 2.438 billion dollars for the five weeks ended December 31, 2016. Comparable sales increased 1 percent for the period under review.
The company reported net sales of 11.592 billion dollars for the 48 weeks ended December 30, 2017, compared to net sales of 11.769 billion dollars for the same period ended December 31, 2016, while comparable sales decreased 4 percent. The company said, for the 48 weeks, the exit of the swim and apparel categories had a negative impact of about 3 percentage points and 5 percentage points to total company and Victoria’s Secret comparable sales, respectively.
L Brands added that before the effect of any significant one-time items, including the impact of tax reform legislation, the company expects to report fourth quarter earnings per share of about 2 dollars, compared to its previous guidance of 1.95 dollars to 2.10 dollars.
Picture:Victoria's Secret website