American fast fashion brand ‘L Brands’ has witnessed a slump in its earnings and margins for the second quarter of 2018.
The operating income of L Brands for the quarter was US $ 228.1 million, which was much lower than what it was for the same period last year (US $ 300.9 million).
It is worth noting that the net income of L brands for Q2 was US $ 99 million, which was again significantly lower than what it was for the same period in 2017 (US $ 138.9 million).
Among its reputed flagship brands, Pink saw a significant drop in sales especially in its US market.
Immediately after the sales figures were released, the CEO of Pink, Denise Landman, announced her retirement. She will be replaced by Amy Hauk on 1st October.
The company, also, denied the allegation that Pink has lost its connectivity with its consumers.
Amy, who currently holds the position of President, Merchandising and Product Development, Bath & Body Works, has been instrumental in enhancing the sales of Bath & Body Works by 10 per cent for Q2.
The company’s Victoria’s Secret brand too saw a decrease of 1 per cent for its same-stores for the second quarter.
