L Brands sales up 11.5% in February
US apparel firm L Brands, Inc. saw a strong sales month in February, reporting on Thursday a sales jump across all its major brands including Victoria's Secret and Bath & Body Works.
The Columbus-based group reported net sales of $853.9 million for the four-week period ended March 3, 2018, up from $765.5 million compared to the same period last year. Meanwhile, comparable sales in February increased 3 percent. By brand, Victoria’s Secret sales rose 2 percent while Bath & Body Works sales rose 7 percent and L Brands by 3 percent. This compared to last February where all brands saw a sales fall, including a decrease of 16 percent at Victoria’s Secret. Victoria’s Secret is finally seeing some relief after months of suffering from its decision to pull its Victoria’s Secret swim and apparel categories in 2016. Last month, the group reported full year net sales of $12.632 billion for the year ended February 3, 2018, up from $12.574 billion. Still, looking ahead, the company currently expects 2018 full-year earnings per share to be between $2.95 and $3.25, including earnings per share between $0.15 and $0.20 in the first quarter.