COLUMBUS, Ohio, May 8, 2014 /PRNewswire/ -- L Brands, Inc.
(NYSE: LB) reported net sales increased 9% to $717.6 million
for the four weeks ended May 3, 2014,
compared to net sales of $660.5
million for the four weeks ended May
4, 2013. Comparable stores sales increased 8% for the
four weeks ended May 3, 2014.
The company reported net sales of $2.391
billion for the 13 weeks ended May 3,
2014, an increase of 5% compared to sales of $2.268 billion for the 13 weeks ended
May 4, 2013. Comparable stores
sales increased 2% for the 13 weeks ended May 3, 2014.
The company expects to report first quarter earnings per share
of $0.50 to $0.52, versus its
previous estimate of $0.44 to
$0.49. The company will update its full-year earnings
guidance on May 21.
To hear further commentary provided on L Brands' prerecorded
April sales message, call 1-866-639-7583 (1-866-NEWS-LTD), or log
onto www.LB.com for an audio replay. The company will release
its first quarter earnings after the close of the market on
May 21 and hold its conference call
at 9:15 a.m. Eastern on May 22.
The conference call is starting 15 minutes later than normal to
allow for the company's 8:30 a.m.
annual meeting.
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 2,923 company-owned specialty stores in
the United States, Canada and the United Kingdom and its brands are sold in
about 600 franchised additional locations world-wide. 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
L Brands, Inc. cautions 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 April sales
call 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 April sales call:
- 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 a high volume of 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 into global markets and
related risks;
- our relationships with independent licensees and
franchisees;
- our direct channel businesses;
- our failure to protect our reputation and our brand
images;
- our failure to protect our trade names, trademarks and
patents;
- the highly competitive nature of the retail industry generally
and the segments in which we operate particularly;
- consumer acceptance of our products and our ability to 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;
- 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;
- fluctuations in foreign currency exchange rates;
- stock price volatility;
- our failure 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 employees
and manage labor-related costs;
- the inability of our manufacturers to deliver products in a
timely manner and meet quality standards;
- fluctuations in product input costs;
- 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 failure to maintain the security of customer, associate,
supplier or company information;
- our failure to comply with regulatory requirements;
- tax matters; and
- legal and compliance 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
April sales call to reflect circumstances existing after the date
of this report 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
2013 Annual Report on Form 10-K.
L BRANDS
APRIL 2014
Comparable Store
Sales Increase (Decrease):
|
|
|
April
2014
|
|
April
2013
|
|
First
Quarter
2014
|
|
First
Quarter
2013
|
|
|
|
|
|
|
|
|
|
|
Victoria's
Secret1
|
8%
|
|
2%
|
|
2%
|
|
3%
|
|
Bath & Body
Works1
|
8%
|
|
4%
|
|
2%
|
|
3%
|
|
L
Brands
|
8%
|
|
2%
|
|
2%
|
|
3%
|
|
Victoria's
Secret
Direct
Sales
|
(3%)
|
|
(4%)
|
|
0%
|
|
(6%)
|
|
|
1 –
Results include company-owned stores in the United States and
Canada.
|
Total Sales
(Millions):
|
|
|
First
Quarter
2014
|
|
First
Quarter
2013
|
|
|
|
|
|
|
Victoria's Secret
Stores1
|
$ 1,245.3
|
|
$ 1,184.6
|
|
Victoria's Secret
Direct
|
358.3
|
|
359.1
|
|
Total
Victoria's Secret
|
$ 1,603.6
|
|
$ 1,543.7
|
|
Bath & Body
Works1
|
$ 530.2
|
|
$ 517.1
|
|
Bath & Body Works
Direct
|
51.4
|
|
43.7
|
|
Total Bath
& Body Works
|
$ 581.6
|
|
$ 560.8
|
|
VS & BBW
International2
|
$
71.0
|
|
$
40.4
|
|
Other
|
$ 135.0
|
|
$ 123.1
|
|
L
Brands
|
$
2,391.2
|
|
$
2,268.0
|
|
|
1 –
Results include company-owned stores in the United States and
Canada.
|
2 –
Results include retail sales from company-owned stores outside of
the
United States and Canada, royalties associated with franchised
stores and
wholesale sales.
|
Total
Company-Owned Stores:
|
|
|
|
Stores
|
|
Stores
|
|
|
Operating
|
Operating
|
|
|
at 2/1/14
|
Opened
|
Closed
|
at 5/3/14
|
|
|
|
|
|
|
Victoria's Secret
U.S.
|
|
977
|
1
|
(2)
|
976
|
PINK U.S.
|
|
83
|
6
|
-
|
89
|
Victoria's Secret
Canada
|
|
24
|
1
|
-
|
25
|
PINK
Canada
|
|
10
|
-
|
-
|
10
|
Total
Victoria's Secret
|
|
1,094
|
8
|
(2)
|
1,100
|
|
|
|
|
|
|
Bath & Body Works
U.S.
|
|
1,559
|
1
|
(7)
|
1,553
|
Bath & Body Works
Canada
|
|
79
|
3
|
(1)
|
81
|
Total
Bath & Body Works
|
|
1,638
|
4
|
(8)
|
1,634
|
|
|
|
|
|
|
Victoria's Secret
U.K.
|
|
5
|
2
|
-
|
7
|
Henri
Bendel
|
|
29
|
-
|
-
|
29
|
La Senza
Canada
|
|
157
|
-
|
(4)
|
153
|
Total L
Brands
|
|
2,923
|
14
|
(14)
|
2,923
|
Total Franchise
Stores:
|
|
|
Stores
|
|
Stores
|
|
Operating
|
Operating
|
|
at 2/1/14
|
Opened
|
Closed
|
at 5/3/14
|
|
|
|
|
|
Victoria's Secret
Beauty & Accessories
|
198
|
13
|
(2)
|
209
|
VS International
(Full Assortment)
|
4
|
2
|
-
|
6
|
BBW
International
|
55
|
4
|
-
|
59
|
La Senza
International
|
331
|
-
|
(3)
|
328
|
Total
Franchise
|
588
|
19
|
(5)
|
602
|
SOURCE L Brands, Inc.