L Brands Reports May 2016 Sales
02 June 2016 - 9:15PM
L Brands, Inc. (NYSE:LB) reported net sales
increased 2% to $816.6 million for the four weeks ended May 28,
2016, compared to net sales of $799.1 million for the four weeks
ended May 30, 2015. Comparable sales for the four weeks ended
May 28, 2016, were flat.
The company reported net sales of $3.430 billion
for the 17 weeks ended May 28, 2016, an increase of 4% compared to
net sales of $3.311 billion for the 17 weeks ended May 30,
2015. Comparable sales for the 17 weeks ended May 28, 2016,
increased 2%.
To hear further commentary provided on L Brands’
prerecorded May 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, Bath & Body Works, La Senza and Henri
Bendel, is an international company. The company operates
3,038 company-owned specialty stores in the United States, Canada,
the United Kingdom and Greater China, and its brands are sold in
more than 700 additional franchised locations worldwide. 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
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 May 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
May 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 relationships with 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 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 supplier 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 employees
and manage labor-related costs;
- the ability of our manufacturers to deliver products in a
timely manner, meet quality standards and comply with applicable
laws and regulations;
- 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 ability to maintain the security of customer, associate,
supplier or company information;
- our ability to comply with regulatory requirements;
- legal and compliance matters; and
- tax 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 May 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 2015
Annual Report on Form 10-K.
L BRANDSMAY
2016
Comparable Sales Increase (Decrease):
|
MayTotal company
comps(stores and direct) |
|
Year-to-dateTotal company
comps(stores and direct) |
|
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
|
|
|
|
|
|
|
Victoria’s Secret
Stores1 |
|
(1 |
%) |
|
|
3 |
% |
|
|
1 |
% |
|
|
3 |
% |
Bath & Body
Works1 |
|
3 |
% |
|
|
6 |
% |
|
|
5 |
% |
|
|
5 |
% |
L
Brands2 |
|
0 |
% |
|
|
4 |
% |
|
|
2 |
% |
|
|
4 |
% |
1 – Results include company-owned stores in the United States
and Canada and direct sales.2 – Results include company-owned
stores in the United States, Canada and the UK and direct
sales.
|
MayStore only comps |
|
Year-to-dateStore only
comps |
|
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
|
|
|
|
|
|
|
Victoria’s Secret
Stores1 |
|
(2 |
%) |
|
|
5 |
% |
|
|
0 |
% |
|
|
5 |
% |
Bath & Body
Works1 |
|
2 |
% |
|
|
5 |
% |
|
|
3 |
% |
|
|
4 |
% |
L
Brands2 |
|
(1 |
%) |
|
|
5 |
% |
|
|
1 |
% |
|
|
5 |
% |
1 – Results include company-owned stores in the United States
and Canada.2 – Results include company-owned stores in the United
States, Canada and the UK.
Total Company-Owned Stores:
|
|
Stores |
|
|
|
Stores |
|
|
Operating |
|
Operating |
|
|
at 1/30/16 |
Opened |
Acquired |
Closed |
at 5/28/16 |
|
|
|
|
|
|
|
Victoria's Secret
U.S. |
|
990 |
5 |
- |
|
(4 |
) |
991 |
PINK U.S. |
|
128 |
1 |
- |
|
- |
|
129 |
Victoria's Secret
Canada |
|
37 |
- |
- |
|
- |
|
37 |
PINK Canada |
|
9 |
- |
- |
|
- |
|
9 |
Total Victoria’s Secret |
|
1,164 |
6 |
- |
|
(4 |
) |
1,166 |
|
|
|
|
|
|
|
Bath & Body Works
U.S. |
|
1,574 |
5 |
- |
|
(2 |
) |
1,577 |
Bath & Body Works
Canada |
|
98 |
1 |
- |
|
- |
|
99 |
Total Bath & Body Works |
|
1,672 |
6 |
|
|
(2 |
) |
1,676 |
|
|
|
|
|
|
|
Victoria’s Secret
U.K. |
|
12 |
- |
- |
|
- |
|
12 |
PINK U.K. |
|
2 |
1 |
- |
|
- |
|
3 |
Victoria’s Secret Beauty
and Accessories |
|
- |
1 |
26 |
|
- |
|
27 |
Henri Bendel |
|
29 |
- |
- |
|
- |
|
29 |
La Senza Canada |
|
126 |
- |
- |
|
(1 |
) |
125 |
Total L Brands
Stores |
|
3,005 |
14 |
26 |
|
(7 |
) |
3,038 |
For further information, please contact:
L Brands:
Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com
Media Relations
Tammy Roberts Myers
(614) 415-7072
communications@lb.com
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