L Brands news and archive

L Brands December net sales decline

L Brands, Inc. net sales were 2.477 billion dollars for the five weeks ended January 5, 2019, compared to 2.516 billion dollars for the five weeks ended Dec. 30, 2017. Comparable sales were flat for the five weeks period. The company reported net sales of 12.457 billion dollars for the 48 weeks compared to 11.592 billion dollars for the same...

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L Brands to sell lingerie brand La Senza

L Brands, Inc., has announced that following its previously disclosed comprehensive review process, it has signed a definitive agreement to transfer ownership and operating control of La Senza – inclusive of the home office organization, North American stores and e-commerce and international partnerships – to an affiliate of Regent LP, a global...

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L Brands November comparable sales up 9 percent

L Brands, Inc. reported net sales of 1.596 billion dollars for the four weeks ended December 1, 2018, compared to net sales of 1.267 billion dollars for the four weeks ended November 25, 2017. Comparable sales for the period increased 9 percent. The company’s net sales for the 43 weeks were 9.980 billion dollars compared to 9.077 billion dollars...

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John Mehas takes over as CEO of Victoria’s Secret Lingerie

Along with its third quarter results, L Brands also announced the appointment of John Mehas as the new CEO of Victoria’s Secret Lingerie, effective early 2019, replacing Jan Singer, who recently resigned. “John is an outstanding retail merchant and we could not be more excited for him to lead Victoria’s Secret Lingerie to a new phase of success,...

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L Brands Q3 revenues up 6 percent, raises full year EPS outlook

American multi-brand retailer L Brands said on Monday its Q3 revenue for 2018 increased by 6 percent. The company reported a loss per share of 0.16 cents for the quarter compared to earnings per share of 0.30 cents for the quarter ended October 28, 2017. The company’s sales in Q3 2018 were 2,775 million US dollars, up from 2,618 million US...

Management

Jan Singer, CEO of Victoria’s Secret’s lingerie division steps down

After serving the business for two years, Jan Singer, CEO of Victoria's Secret's lingerie division is said to be stepping down from her role, reports CNBC quoting a person familiar with the development. The company is expected to make her departure official when it reports quarterly earnings on Monday, November 19, 2018. According to AFP, the...

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L Brands updates Q3 earnings forecast

L Brands, Inc. has reported net sales of 860.5 million dollars for the four weeks ended November 3, 2018, an increase of 8 percent, , while comparable sales increased 4 percent. The company said, it expects adjusted third quarter earnings per share to be approximately 0.15 dollar, compared to its previous guidance of 0 to 0.05 dollar,...

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L Brands exploring alternatives for La Senza business

L Brands, Inc. reported net sales of 1.058 billion dollars for the five weeks ended October 6, 2018, an increase of 8 percent, while comparable sales for the month increased 5 percent. The company reported net sales of 7.524 billion dollars for the 35 weeks ended October 6, 2018, an increase of 7 percent, while comparable sales increased 3...

ManagementFeatured

L Brands to shut down centenary Henri Bendel brand

L Brands will put an end to over 123 years of trade of its upscale brand Henri Bendel. The luxury handbags and shoes company will close for good in January, after the holiday season, announced earlier this week its parent group. "We are committed to improving performance in the business and increasing shareholder value," L Brands chairman and...

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L Brands: August net sales increase to 856.3 million dollars

L Brands, Inc. said in a statement that its net sales reached 856.3 million dollars for the four weeks ended September 1, 2018, compared to 842.1 million dollars for the four weeks ended August 26, 2017, while comparable sales increased 1 percent for the month under review. The company has reported net sales of 6.466 billion dollars for the 30...

Retail

Victoria’s Secret to shut 20 stores this year

Victoria’s Secret is struggling. Amidst the #metoo and body positivity movements, the brand best known for the flawless models strutting in angel wings has fallen out of fashion. After announcing its Q2 results last Thursday, the brand’s parent company, L Brands, has announced the closure of 20 Victoria’s Secret stores by the end of this year....

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L Brands Q2 net income declines, lowers earnings forecast

American multi-brand retailer L Brands said on Wednesday its Q2 revenue for 2018 increased by 8.3 percent, while net income declined by 28.8 percent from the same period last year. The company’s sales in Q2 2018 were 2.984 billion US dollars, up from 2.755 billion US dollars a year earlier. Net profit declined to 99 million US dollars compared...