US-based fashion retailer L Brands has unveiled its financial results for the five weeks ended September 30, 2017.
During the period under review, the company’s net sales increased by 1 per cent from US $ 971.4 million last year to US $ 981.6 million this year.
However, the retailer reported a 2 per cent decrease in its comparable sales during the five-week period of September 2017.
Total company and L Brands-owned Victoria’s Secret’s comparable sales noted a negative impact of about 2 percentage points and 3 percentage points, respectively, due to the exit of swim and apparel categories.
L Brands in particular noted a 1 point negative impact on sales due to hurricane.
The lingerie label’s net sales tumbled 4 per cent to US $ 7.015 billion for the 35 weeks ended September 30, 2017,as against net sales of US $ 7.328 billion in the corresponding period of 2016. Its comparable sales declined by 7 percent.
In the 35-week period, total company and Victoria’s Secret’s comparable sales noted a negative impact of about 5 percentage points and 8 percentage points, respectively. The departure of swim and apparel categories affected the sales.
L Brands currently runs 3,080 speciality stores in the US, Canada, the UK and the Greater China.
