L Brands holiday comparable sales improve 5 percent
7 Jan 2021
L Brands, Inc. has reported net sales of 3.836 billion dollars for the nine weeks ended January 2, 2021, compared to net sales of 3.906 billion dollars for the same period ended January 4, 2020. The company said in a statement that comparable sales increased 5 percent for the period.
At Bath & Body Works, comparable sales increased 17 percent, including a comparable sales increase of 5 percent in stores and 64 percent sales growth in the direct channel, while at Victoria’s Secret, comparable sales decreased 9 percent including a comparable sales decrease of 23 percent in stores and 24 percent sales growth in the direct channel.
Commenting on the trading report, Andrew Meslow, Chief Executive Officer of L Brands and Bath & Body Works, said: “We are very pleased with our Holiday results, which significantly exceeded our initial expectations, driven by an increase in profitability at both Bath & Body Works and Victoria’s Secret.”
The company currently expects to report fourth quarter earnings per share between 2.70 dollars and 2.80 dollars.
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