Monday, April 10, 2017

L Brands’ March comps sink

L Brands, which operates Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, reported its net sales decreased 7% to  $951.4 million for the five weeks ended April 1, 2017. This is compared to net sales of $1.027 billion for the five weeks ended April 2 , 2016.
Comparable sales for the five weeks decreased 10%. While the company blamed a later Easter for hurting sales by approximately 2 to 3 points, a bigger factor is the company’s recent exit from the swim and apparel categories. This move had a negative impact of 7 percentage points and 10 percentage points to total company and Victoria’s Secret comparable sales, respectively.. . . more

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