January comparable store sales up 7 percent at L Brands

L Brands, Inc. has reported net sales of 1.040 billion dollars for the five-week period ended February 3, 2018, compared to 805.2 million dollars for the four-week period ended January 28, 2017. The fifth week in January represented approximately 150 million dollars in sales and 0.07 dollar in earnings per share. The company’s comparable sales increased 7 percent for the period under review.

Net sales were 4.823 billion dollars for the fourth quarter compared to 4.489 billion dollars for the 13 weeks ended January 28, 2017. Comparable sales for quarter increased 2 percent compared to the 1same period last year. Net sales were 12.632 billion dollars for the 53-week year ended February 3, 2018, compared to 12.574 billion dollars for the 52 weeks ended January 28, 2017. Comparable sales for the 53 weeks decreased 3 percent compared to the last year. For the 53 weeks, the exit of the swim and apparel categories had a negative impact of about 3 percentage points and 5 percentage points to total company and Victoria’s Secret comparable sales, respectively.

Before the effect of any significant items, including the impact of tax reform legislation, the company expects to report fourth quarter earnings per share of about 2.05 dollars, compared to its previous guidance of about 2 dollars.

Picture:L Brands website