Get All Access for FREEMarket News & Research,
Live Transcripts & Audio,
and a whole lot more…
Lingerie retailer $LB said its sales rose 3% YoY to $2.5Bil in the five weeks ended December 30, 2017, Comparable sales grew 1% during the period. L Brands also narrowed the earnings guidance range for the fourth quarter to about $2 per share from $1.95-$2.10 per share it had estimated earlier.
$LB reported net sales of $1.267Bil for November, up 2%. Comparable sales inched 1% down. For November, the exit of the swim and apparel categories had a negative impact of about 1 percentage point for both total company and Victoria’s Secret comparable sales.
Specialty fashion retailer of women's intimate and other apparel $LB reported a 29% slump in 3Q17 profit to $85.9MM or $0.30 per share. The results were impacted by the exit of the swim and apparel categories, which impacted comp sales for the quarter. Net sales grew marginally by 1% to $2.6Bil, with comp sales declining 1%.
Store operator $LB reported a 1% annual decline in net sales to $842MM in August. Comparable sales dropped 4%, hurt mainly by the negative impact of exit of the swim and apparel categories. In the 30-week period ended August 26, the company recorded net sales of $6Bil, down 5% compared to last year. Comparable sales dipped 8% during the period.
Apparel retailer $LB reported 45% drop in its 2Q17 earnings to $138.8MM, or $0.48 per share, compared to $252.4MM, or 0.87 per share during 2Q16. Net sales during the quarter fell to $2.75Bil from $2.88Bil. Comparable sales fell 8%, mainly due to the company's exit from swim and apparel categories. Excluding items, $LB earned $0.48 per share.
$LB reported net sales for the month of July 2017 was $767.7MM, down from $777MM last year, and comparable sales decreased 7%. For the 13-week ended July 29, 2017, net sales fell to $2.76Bil from $2.89Bil and comparable sales declined 8%. $LB expects to report 2Q17 EPS at the high end of its previous guidance range of $0.40-0.45.
$LB net sales declined 6% to $1.213Bil for June 2017 compared to net sales of $1.296Bil for June 2016. Comparable sales for June 2017, fell 9%. For June 2017, the exit of swim and apparel categories had a negative impact of about 7 percentage points and 10 percentage points to the total company and Victoria’s Secret comparable sales, respectively.
$LB reported net sales of $3.211Bil for the 17 weeks ended May 27, 2017, down 6% from $3.43Bil last year. Comparable sales for the 17 weeks ended May 27, 2017, decreased 9%. For 17-week ended May 27, 2017, exit of swim and apparel categories had a negative impact of 7 points and 10 points to total company and Victoria’s Secret comparable sales.