L Brands (LB) Jan. Comps Decline 1%
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L Brands, Inc. (NYSE: LB) reported net sales of $780.1 million for the four weeks ended Feb. 2, 2019, compared to net sales of $1.040 billion for the five weeks ended Feb. 3, 2018. Comparable sales decreased 1 percent for the four weeks ended Feb. 2, 2019, compared to the four weeks ended Feb. 3, 2018.
Net sales were $4.852 billion for the 13-week fourth quarter ended Feb. 2, 2019, compared to $4.823 billion for the 14 weeks ended Feb. 3, 2018. Comparable sales for the 13-week fourth quarter ended Feb. 2, 2019, increased 3 percent compared to the 13 weeks ended Feb. 3, 2018.
Net sales were $13.237 billion for the 52-week year ended Feb. 2, 2019, compared to $12.632 billion for the 53 weeks ended Feb. 3, 2018. Comparable sales for the 52 weeks ended Feb. 2, 2019, increased 3 percent compared to the 52 weeks ended Feb. 3, 2018.
The company also announced the declaration of its regular quarterly dividend of $0.30 per share payable on March 8, 2019 to shareholders of record at the close of business on Feb. 22, 2019. This is the company’s 177th consecutive quarterly dividend.
To hear further commentary provided on L Brands’ prerecorded January sales message, call 1-866-639-7583 or log onto www.LB.com for an audio replay.
| L BRANDS | ||||||||||||||||||
| JANUARY 2019 | ||||||||||||||||||
| Comparable Sales Increase (Decrease) (Stores and Direct): | ||||||||||||||||||
| Jan.2019 | Jan.2018 | Fourth Quarter2018 | FourthQuarter2017 | Year2018 | Year2017 | |||||||||||||
| Victoria’s Secret1 | (1 | %) | 4 | % | (3 | %) | (1 | %) | (2 | %) | (8 | %) | ||||||
| Bath & Body Works1 | 0 | % | 13 | % | 12 | % | 6 | % | 11 | % | 5 | % | ||||||
| L Brands2 | (1 | %) | 7 | % | 3 | % | 2 | % | 3 | % | (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): | ||||||||||||||||||
| Jan.2019 | Jan.2018 | Fourth Quarter2018 | FourthQuarter2017 | Year2018 | Year2017 | |||||||||||||
| Victoria’s Secret1 | (8 | %) | 0 | % | (7 | %) | (6 | %) | (6 | %) | (8 | %) | ||||||
| Bath & Body Works1 | (4 | %) | 9 | % | 8 | % | 4 | % | 8 | % | 2 | % | ||||||
| L Brands2 | (7 | %) | 2 | % | (1 | %) | (2 | %) | (1 | %) | (4 | %) | ||||||
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): | |||||||||||
| FourthQuarter 2018(13 weeks) | FourthQuarter 2017(14 weeks) | Year2018(52 weeks) | Year2017(53 weeks) | ||||||||
| Victoria’s Secret1 | $ | 1,849.3 | $ | 2,038.3 | $ | 5,627.9 | $ | 5,878.9 | |||
| Victoria’s Secret Direct | 682.5 | 630.6 | 1,747.0 | 1,508.3 | |||||||
| Total Victoria’s Secret | $ | 2,531.8 | $ | 2,668.9 | $ | 7,374.9 | $ | 7,387.2 | |||
| Bath & Body Works1 | $ | 1,626.1 | $ | 1,544.6 | $ | 3,907.2 | $ | 3,589.2 | |||
| Bath & Body Works Direct | 324.7 | 249.1 | 723.8 | 558.7 | |||||||
| Total Bath & Body Works | $ | 1,950.8 | $ | 1,793.7 | $ | 4,631.0 | $ | 4,147.9 | |||
| VS & BBW International2 | $ | 190.7 | $ | 170.3 | $ | 605.3 | $ | 502.4 | |||
| Other | $ | 179.0 | $ | 190.2 | $ | 625.7 | $ | 594.9 | |||
| L Brands | $ | 4,852.3 | $ | 4,823.1 | $ | 13,236.9 | $ | 12,632.4 | |||
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 2/3/18 | Opened | Closed | Sold | at 2/2/19 | |||||
| Victoria's Secret U.S. | 984 | 2 | (29 | ) | - | 957 | |||
| PINK U.S. | 140 | 1 | - | - | 141 | ||||
| Victoria's Secret Canada | 39 | - | - | - | 39 | ||||
| PINK Canada | 7 | - | (1 | ) | - | 6 | |||
| Total Victoria’s Secret | 1,170 | 3 | (30 | ) | - | 1,143 | |||
| Bath & Body Works U.S. | 1,592 | 54 | (27 | ) | - | 1,619 | |||
| Bath & Body Works Canada | 102 | 1 | (1 | ) | - | 102 | |||
| Total Bath & Body Works | 1,694 | 55 | (28 | ) | - | 1,721 | |||
| Victoria’s Secret U.K./Ireland | 19 | 2 | - | - | 21 | ||||
| PINK U.K. | 5 | - | - | - | 5 | ||||
| Victoria’s Secret Beauty and Accessories | 29 | 13 | (4 | ) | - | 38 | |||
| Victoria’s Secret China | 7 | 8 | - | - | 15 | ||||
| Total International | 60 | 23 | (4 | ) | - | 79 | |||
| Henri Bendel | 27 | - | (27 | ) | - | - | |||
| La Senza U.S.1 | 5 | 7 | - | (12 | ) | - | |||
| La Senza Canada1 | 119 | - | (1 | ) | (118 | ) | - | ||
| Total L Brands Stores | 3,075 | 88 | (90 | ) | (130 | ) | 2,943 | ||
1 – Stores were sold to an affiliate of Regent LP on Jan. 6, 2019.
| Total Noncompany-Owned Stores: | ||||||||||
| Stores | Stores | |||||||||
| Operating | Operating | |||||||||
| at 2/3/18 | Opened | Closed | Sold | At 2/2/19 | ||||||
| Victoria’s Secret Beauty & Accessories – Travel Retail | 156 | 26 | (18 | ) | - | 164 | ||||
| Bath & Body Works – Travel Retail | 9 | 5 | (2 | ) | - | 12 | ||||
| Victoria’s Secret Beauty & Accessories | 241 | 6 | (28 | ) | - | 219 | ||||
| Victoria’s Secret | 32 | 15 | - | - | 47 | |||||
| PINK | 5 | 4 | - | - | 9 | |||||
| Bath & Body Works | 176 | 51 | (4 | ) | - | 223 | ||||
| La Senza1 | 194 | 2 | (17 | ) | (179 | ) | - | |||
| Total | 813 | 109 | (69 | ) | (179 | ) | 674 | |||
1 – Stores were sold to an affiliate of Regent LP on Jan. 6, 2019.
Source: L Brands, Inc.
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