US-based L Brands has revealed its December sales report. During the reporting month, the fashion retailer noted a 3 per cent increase in its net sales to US $ 2.516 billion from US $ 2.438 billion in the same period last year.
L Brands’ comparable sales during the reporting period noted a 1 per cent increase. Its net sales for the 48 weeks period ended on December 30, 2017, declined by 4 per cent to US $ 11.592 billion as against net sales of US $ 11.769 billion during the same period in 2016. The fashion firm earlier reported an 18 per cent decline in its operating income in the third quarter of this fiscal.
L Brands operates around 3,100 company-owned speciality stores in the United States, Canada, the United Kingdom and the Greater China. It owns brands such as PINK, Bath & Body Works, La Senza and Henri Bendel.
Additionally, Victoria’s Secret is also a wholly-owned brand of L Brands and the largest American retailer of women’s lingerie. The brand is available in over 1,000 locations through company-operated and independent stores.
During the reporting period, the exit of the swim and apparel segments adversely affected around 3 percentage points and 5 percentage points to the company’s overall and Victoria’s Secret comparable sales, respectively.
