L Brands Reports September 2017 Sales
October 05 2017 - 7:15AM
L Brands, Inc. (NYSE:LB) reported net sales of $981.6 million for
the five weeks ended Sept. 30, 2017, an increase of 1 percent,
compared to net sales of $971.4 million for the five weeks ended
Oct. 1, 2016. Comparable sales decreased 2 percent for the
five weeks ended Sept. 30, 2017. For September, the exit of
the swim and apparel categories had a negative impact of about 2
percentage points and 3 percentage points to total company and
Victoria’s Secret comparable sales, respectively. The
September hurricanes had about a 1 point negative impact to
September total sales.
The company reported net sales of $7.015 billion
for the 35 weeks ended Sept. 30, 2017, a decrease of 4 percent
compared to net sales of $7.328 billion for the 35 weeks ended Oct.
1, 2016. Comparable sales decreased 7 percent for the 35
weeks ended Sept. 30, 2017. For the 35 weeks ended Sept. 30,
2017, the exit of the swim and apparel categories had a negative
impact of about 5 percentage points and 8 percentage points to
total company and Victoria’s Secret comparable sales,
respectively.
To hear further commentary provided on L Brands’
prerecorded September sales message, call 1-866-639-7583, or log
onto www.LB.com for an audio replay.
ABOUT L BRANDS:L Brands, through
Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri
Bendel, is an international company. The company operates
3,080 company-owned specialty stores in the United States, Canada,
the United Kingdom and Greater China, and its brands are sold in
nearly 800 additional franchised locations worldwide. The
company’s products are also available online at
www.VictoriasSecret.com, www.BathandBodyWorks.com,
www.HenriBendel.com and www.LaSenza.com.
Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995
We caution that any forward-looking statements (as such term is
defined in the Private Securities Litigation Reform Act of 1995)
contained in this press release or the September sales call or made
by our company or our management involve risks and uncertainties
and are subject to change based on various factors, many of which
are beyond our control. Accordingly, our future performance and
financial results may differ materially from those expressed or
implied in any such forward-looking statements. Words such as
“estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,”
“intend,” “planned,” “potential” and any similar expressions may
identify forward-looking statements. Risks associated with the
following factors, among others, in some cases have affected and in
the future could affect our financial performance and actual
results and could cause actual results to differ materially from
those expressed or implied in any forward-looking statements
included in this press release or the September sales call or
otherwise made by our company or our management:
- general economic conditions, consumer confidence, consumer
spending patterns and market disruptions including severe weather
conditions, natural disasters, health hazards, terrorist
activities, financial crises, political crises or other major
events, or the prospect of these events;
- the seasonality of our business;
- the dependence on mall traffic and the availability of suitable
store locations on appropriate terms;
- our ability to grow through new store openings and existing
store remodels and expansions;
- our ability to successfully expand internationally and related
risks;
- our independent franchise, license and wholesale partners;
- our direct channel businesses;
- our ability to protect our reputation and our brand
images;
- our ability to attract customers with marketing, advertising
and promotional programs;
- our ability to protect our trade names, trademarks and
patents;
- the highly competitive nature of the retail industry and the
segments in which we operate;
- consumer acceptance of our products and our ability to manage
the life cycle of our brands, keep up with fashion trends, develop
new merchandise and launch new product lines successfully;
- our ability to source, distribute and sell goods and materials
on a global basis, including risks related to: • political
instability, significant health hazards, environmental hazards or
natural disasters; • duties, taxes and other
charges; • legal and regulatory matters;
• volatility in currency exchange rates; • local
business practices and political issues; • potential
delays or disruptions in shipping and transportation and related
pricing impacts; • disruption due to labor disputes;
and • changing expectations regarding product safety due
to new legislation;
- our geographic concentration of supplier and distribution
facilities in central Ohio;
- fluctuations in foreign currency exchange rates;
- stock price volatility;
- our ability to pay dividends and related effects;
- our ability to maintain our credit rating;
- our ability to service or refinance our debt;
- our ability to retain key personnel;
- our ability to attract, develop and retain qualified associates
and manage labor-related costs;
- the ability of our manufacturers to deliver products in a
timely manner, meet quality standards and comply with applicable
laws and regulations;
- fluctuations in product input costs;
- our ability to adequately protect our assets from loss and
theft;
- fluctuations in energy costs;
- increases in the costs of mailing, paper and printing;
- claims arising from our self-insurance;
- our ability to implement and maintain information technology
systems and to protect associated data;
- our ability to maintain the security of customer, associate,
supplier or company information;
- our ability to comply with regulatory requirements;
- legal and compliance matters; and
- tax, trade and other regulatory matters.
We are not under any obligation and do not intend
to make publicly available any update or other revisions to any of
the forward-looking statements contained in this press release or
the September sales call to reflect circumstances existing after
the date of this press release or to reflect the occurrence of
future events even if experience or future events make it clear
that any expected results expressed or implied by those
forward-looking statements will not be realized. Additional
information regarding these and other factors can be found in Item
1A. Risk Factors in our 2016 Annual Report on Form 10-K.
For further information, please
contact:
L Brands:Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com
Media RelationsTammy Roberts Myers(614)
415-7072communications@lb.com
|
L BRANDS |
|
SEPTEMBER 2017 |
|
Comparable Sales Increase (Decrease) (Stores
and Direct): |
|
|
|
|
September2017 |
|
September2016 |
|
|
Year-to-Date2017 |
|
Year-to-Date2016 |
|
|
|
|
|
|
|
|
|
|
|
Victoria’s Secret1 |
(5 |
%) |
|
0 |
% |
|
|
(12 |
%) |
|
1 |
% |
|
Bath & Body
Works1 |
4 |
% |
|
9 |
% |
|
|
4 |
% |
|
6 |
% |
|
L
Brands2 |
(2 |
%) |
|
3 |
% |
|
|
(7 |
%) |
|
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): |
|
|
September2017 |
|
September2016 |
|
|
Year-to-Date2017 |
|
Year-to-Date2016 |
|
|
|
|
|
|
|
|
|
|
|
Victoria’s Secret1 |
(4 |
%) |
|
(2 |
%) |
|
|
(10 |
%) |
|
0 |
% |
|
Bath & Body
Works1 |
0 |
% |
|
5 |
% |
|
|
1 |
% |
|
4 |
% |
|
L
Brands2 |
(2 |
%) |
|
1 |
% |
|
|
(6 |
%) |
|
1 |
% |
|
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 Company-Owned Stores: |
|
|
Stores |
|
|
|
|
Stores |
|
|
Operating |
|
|
|
|
Operating |
|
|
at 1/28/17 |
|
Opened |
|
Closed |
|
at 9/30/17 |
|
|
|
|
|
|
|
|
|
|
Victoria's Secret
U.S. |
|
998 |
|
2 |
|
(7 |
) |
|
993 |
PINK U.S. |
|
133 |
|
4 |
|
(1 |
) |
|
136 |
Victoria's Secret
Canada |
|
37 |
|
2 |
|
- |
|
|
39 |
PINK Canada |
|
9 |
|
- |
|
(2 |
) |
|
7 |
Total Victoria’s
Secret |
|
1,177 |
|
8 |
|
(10 |
) |
|
1,175 |
|
|
|
|
|
|
|
|
Bath & Body Works
U.S. |
|
1,591 |
|
20 |
|
(13 |
) |
|
1,598 |
Bath & Body Works
Canada |
|
102 |
|
- |
|
- |
|
|
102 |
Total Bath &
Body Works |
|
1,693 |
|
20 |
|
(13 |
) |
|
1,700 |
|
|
|
|
|
|
|
|
Victoria’s Secret
U.K. |
|
15 |
|
1 |
|
- |
|
|
16 |
PINK U.K. |
|
3 |
|
- |
|
- |
|
|
3 |
Victoria’s Secret
Beauty and Accessories |
|
31 |
|
- |
|
(1 |
) |
|
30 |
Victoria’s Secret
China |
|
- |
|
2 |
|
- |
|
|
2 |
Total VS &
BBW International |
|
49 |
|
3 |
|
(1 |
) |
|
51 |
|
|
|
|
|
|
|
|
Henri Bendel |
|
29 |
|
- |
|
(1 |
) |
|
28 |
La Senza U.S. |
|
4 |
|
1 |
|
- |
|
|
5 |
La Senza Canada |
|
122 |
|
1 |
|
(2 |
) |
|
121 |
Total L Brands
Stores |
|
3,074 |
|
33 |
|
(27 |
) |
|
3,080 |
|
|
|
|
|
|
|
|
|
|
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