L Brands, Inc. (NYSE:LB) reported net sales of $767.7 million for
the four weeks ended July 29, 2017, compared to net sales of $777.0
million for the four weeks ended July 30, 2016. Comparable
sales decreased 7 percent for the four weeks ended July 29,
2017. For July, the exit of the swim and apparel categories
had a negative impact of about 4 percentage points and 5 percentage
points to total company and Victoria’s Secret comparable sales,
respectively.
The company reported net sales of $2.755 billion
for the 13 weeks ended July 29, 2017, compared to sales of $2.890
billion for the 13 weeks ended July 30, 2016. The company
reported a comparable sales decrease of 8 percent for the 13 weeks
ended July 29, 2017. For the 13 weeks ended July 29, 2017,
the exit of the swim and apparel categories had a negative impact
of about 6 percentage points and 9 percentage points to total
company and Victoria’s Secret comparable sales, respectively.
The company reported net sales of $5.192 billion
for the 26 weeks ended July 29, 2017, compared to sales of $5.504
billion for the 26 weeks ended July 30, 2016. Comparable
sales decreased 9 percent for the 26 weeks ended July 29,
2017. For the 26 weeks ended July 29, 2017, the exit of the
swim and apparel categories had a negative impact of about 6
percentage points and 9 percentage points to total company and
Victoria’s Secret comparable sales, respectively.
The company stated that it expects to report
second quarter earnings per share at the high end of its previous
guidance range of $0.40 to $0.45 per share.
To hear further commentary provided on L Brands’
prerecorded July sales message, call 1-866-639-7583, or log onto
www.LB.com for an audio replay. The company will release
its second quarter earnings after the close of the market on Aug.
16 and hold its conference call at 9 a.m. Eastern on Aug. 17.
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
3,077 company-owned specialty stores in the United States, Canada,
the United Kingdom and Greater China, and its brands are sold in
more than 750 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 July 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 July 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
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 manage the life cycle
of our brands, 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 associates 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;• our ability to adequately protect our
assets from loss and theft;• 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,
trade and other regulatory 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
July 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 2016
Annual Report on Form 10-K.
L BRANDSJULY
2017
Comparable Sales Increase (Decrease) (Stores and
Direct):
|
July2017 |
|
July2016 |
|
SecondQuarter2017 |
|
Second Quarter2016 |
|
Year-to-Date2017 |
|
Year-to-Date2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Victoria’s Secret1 |
(10 |
%) |
|
0 |
% |
|
(14 |
%) |
|
2 |
% |
|
(14 |
%) |
|
2 |
% |
|
Bath & Body
Works1 |
1 |
% |
|
6 |
% |
|
6 |
% |
|
5 |
% |
|
4 |
% |
|
6 |
% |
|
L
Brands2 |
(7 |
%) |
|
2 |
% |
|
(8 |
%) |
|
3 |
% |
|
(9 |
%) |
|
3 |
% |
|
1 – Results include company-owned stores in the U.S. and Canada
and direct sales.2 – Results include company-owned stores in the
U.S., Canada, the U.K. and Greater China and direct sales.
Comparable Sales Increase (Decrease) (Stores
Only):
|
July2017 |
|
July2016 |
|
SecondQuarter2017 |
|
SecondQuarter2016 |
|
Year-to-Date2017 |
|
Year-to-Date2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Victoria’s Secret1 |
(9 |
%) |
|
(1 |
%) |
|
(11 |
%) |
|
1 |
% |
|
(11 |
%) |
|
1 |
% |
|
Bath & Body
Works1 |
(1 |
%) |
|
4 |
% |
|
4 |
% |
|
3 |
% |
|
2 |
% |
|
4 |
% |
|
L
Brands2 |
(7 |
%) |
|
0 |
% |
|
(6 |
%) |
|
1 |
% |
|
(7 |
%) |
|
2 |
% |
|
1 – Results include company-owned stores in the U.S. and
Canada.2 – Results include company-owned stores in the U.S.,
Canada, the U.K. and Greater China.
Total Sales (Millions):
|
Second Quarter 2017 |
|
Second Quarter 2016 |
|
Year-to-Date 2017 |
|
Year-to-Date 2016 |
|
|
|
|
|
|
|
|
Victoria’s Secret1 |
$ |
1,351.0 |
|
$ |
1,469.1 |
|
$ |
2,597.5 |
|
$ |
2,850.3 |
Victoria’s Secret
Direct |
|
295.3 |
|
|
398.3 |
|
|
581.8 |
|
|
757.9 |
Total Victoria’s
Secret |
$ |
1,646.3 |
|
$ |
1,867.4 |
|
$ |
3,179.3 |
|
$ |
3,608.2 |
Bath & Body
Works1 |
$ |
753.0 |
|
$ |
709.1 |
|
$ |
1,341.5 |
|
$ |
1,295.7 |
Bath & Body Works
Direct |
|
107.3 |
|
|
92.3 |
|
|
196.9 |
|
|
165.9 |
Total Bath &
Body Works |
$ |
860.3 |
|
$ |
801.4 |
|
$ |
1,538.4 |
|
$ |
1,461.6 |
VS & BBW
International2 |
$ |
113.9 |
|
$ |
99.7 |
|
$ |
217.2 |
|
$ |
195.0 |
Other |
$ |
134.5 |
|
$ |
121.2 |
|
$ |
256.6 |
|
$ |
238.8 |
L
Brands |
$ |
2,755.0 |
|
$ |
2,889.7 |
|
$ |
5,191.5 |
|
$ |
5,503.6 |
1 – Results include company-owned stores in the U.S. and
Canada.2 – Results include retail sales from company-owned stores
outside of the U.S. and Canada, royalties associated with
franchised stores and wholesale sales.
Total Company-Owned Stores:
|
|
Stores |
|
|
Stores |
|
|
Operating |
|
Operating |
|
|
at 1/28/17 |
Opened |
Closed |
at 7/29/17 |
|
|
|
|
|
|
Victoria's Secret
U.S. |
|
998 |
2 |
(6 |
) |
994 |
PINK U.S. |
|
133 |
2 |
(1 |
) |
134 |
Victoria's Secret
Canada |
|
37 |
2 |
- |
|
39 |
PINK Canada |
|
9 |
- |
(2 |
) |
7 |
Total Victoria’s
Secret |
|
1,177 |
6 |
(9 |
) |
1,174 |
|
|
|
|
|
|
Bath & Body Works
U.S. |
|
1,591 |
17 |
(12 |
) |
1,596 |
Bath & Body Works
Canada |
|
102 |
- |
- |
|
102 |
Total Bath &
Body Works |
|
1,693 |
17 |
(12 |
) |
1,698 |
|
|
|
|
|
|
Victoria’s Secret
U.K. |
|
15 |
1 |
- |
|
16 |
PINK U.K. |
|
3 |
- |
- |
|
3 |
Victoria’s Secret
Beauty and Accessories |
|
31 |
- |
(1 |
) |
30 |
Victoria’s Secret
China |
|
- |
2 |
- |
|
2 |
Total VS &
BBW International |
|
49 |
3 |
(1 |
) |
51 |
|
|
|
|
|
|
Henri Bendel |
|
29 |
- |
- |
|
29 |
La Senza U.S. |
|
4 |
- |
- |
|
4 |
La Senza Canada |
|
122 |
1 |
(2 |
) |
121 |
Total L Brands
Stores |
|
3,074 |
27 |
(24 |
) |
3,077 |
Total Noncompany-Owned Stores:
|
|
Stores |
|
|
Stores |
|
|
Operating |
Operating |
|
|
at 1/28/17 |
Opened |
Closed |
At 7/29/17 |
|
|
|
|
|
|
Victoria’s Secret
Beauty & Accessories – Travel Retail |
|
152 |
11 |
(8 |
) |
155 |
Bath & Body Works –
Travel Retail |
|
8 |
2 |
- |
|
10 |
Victoria’s Secret
Beauty & Accessories |
|
239 |
7 |
(10 |
) |
236 |
Victoria’s Secret |
|
23 |
4 |
- |
|
27 |
PINK |
|
5 |
- |
- |
|
5 |
Bath & Body
Works |
|
151 |
13 |
(1 |
) |
163 |
La Senza |
|
203 |
4 |
(9 |
) |
198 |
Total |
|
781 |
41 |
(28 |
) |
794 |
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
LandBridge (NYSE:LB)
Historical Stock Chart
From Jun 2024 to Jul 2024
LandBridge (NYSE:LB)
Historical Stock Chart
From Jul 2023 to Jul 2024