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L Brands (LB) April 2016 Comps Rose 1%; Guides Q1 EPS Below Consensus

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May 5, 2016 7:16 AM EDT

L Brands, Inc. (NYSE: LB) reported net sales increased 2% to $737.5 million for the four weeks ended April 30, 2016, compared to net sales of $724.6 million for the four weeks ended May 2, 2015. Comparable sales for the four weeks ended April 30, 2016, increased 1%.

The company reported net sales of $2.614 billion for the first quarter ended April 30, 2016, an increase of 4% compared to sales of $2.512 billion for the quarter ended May 2, 2015. Comparable sales for the first quarter ended April 30, 2016, increased 3%.

The company expects to report adjusted first quarter earnings per share at the high end of its previous guidance of $0.50 to $0.55.

*** Consensus estimates call for Q1 EPS of $0.58.

To hear further commentary provided on L Brands’ prerecorded April sales message, call 1-866-639-7583, or log onto www.LB.com for an audio replay.

L BRANDS
APRIL 2016
Comparable Sales Increase (Decrease):
AprilTotal company comps(including direct sales) First QuarterTotal company comps(including direct sales)
2016 2015 2016 2015
Victoria’s Secret Stores1 (1%) (3%) 2% 3%
Bath & Body Works1 5% 0% 6% 5%
L Brands2 1% (2%) 3% 3%

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.

AprilStore only comps First QuarterStore only comps
2016 2015 2016 2015
Victoria’s Secret Stores1 (3%) 0% 1% 5%
Bath & Body Works1 4% (2%) 4% 4%
L Brands2 0% (1%) 2% 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 Sales (Millions):
First Quarter 2016 FirstQuarter 2015
Victoria’s Secret Stores1$1,381.2 $1,345.6
Victoria’s Secret Direct 359.7 338.3
Total Victoria’s Secret$1,740.9 $1,683.9
Bath & Body Works1$586.7 $554.0
Bath & Body Works Direct 73.5 59.3
Total Bath & Body Works$660.2 $613.3
VS & BBW International2$ 95.2 $91.5
Other$117.5 $123.2
L Brands$2,613.8 $ 2,511.9

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 1/30/16 Opened Acquired Closed at 4/30/16
Victoria's Secret U.S. 990 4- (2) 992
PINK U.S. 128 1- - 129
Victoria's Secret Canada 37 -- - 37
PINK Canada 9 -- - 9
Total Victoria’s Secret 1,164 5- (2) 1,167
Bath & Body Works U.S. 1,574 3- (1) 1,576
Bath & Body Works Canada 98 1- - 99
Total Bath & Body Works 1,672 4 (1) 1,675
Victoria’s Secret U.K. 12 -- - 12
PINK U.K. 2 1- - 3
Victoria’s Secret Beauty and Accessories - 126 - 27
Henri Bendel 29 -- - 29
La Senza Canada 126 -- (1) 125
Total L Brands Stores 3,005 1126 (4) 3,038

Total Noncompany-Owned Stores:
Stores Stores
Operating Operating
at 1/30/16 Opened Closed Transferred at 4/30/16
Victoria’s Secret Beauty & Accessories 373 14 (5) (26) 356
Victoria’s Secret 16 1 - - 17
PINK 3 - - - 3
Bath & Body Works 125 6 (1) - 130
La Senza 221 - (4) - 217
Total 738 21 (10) (26) 723

For further information, please contact:



L Brands:

Investor Relations

Amie Preston 

(614) 415-6704 

[email protected] 



Media Relations

Tammy Roberts Myers

(614) 415-7072

[email protected]

Source: L Brands Inc


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