US-based L Brands has unveiled fourth quarter results. During the fourth quarter, the fashion retailer noted a decrease of 8 per cent in operating income to US $ 987.6 million compared to US $ 1.078 billion last year, and net income was US $ 631.7 million compared to US $ 636 million last year.
Net sales for the fourth quarter ended January 28, 2017, were US $ 4.489 billion, an increase of 2 per cent compared to US $ 4.395 billion for the quarter ended January 30, 2016. Comparable sales for the quarter were flat.
The exit of the swim and apparel categories had a negative impact of 2 percentage points and 4 percentage points to total company and Victoria’s Secret comparable sales, respectively, during the quarter.
Net sales for the full year stood at US $ 12.574 billion, noting a surge of 3 per cent as against US $ 12.154 billion last year. Comparable sales for the full year also zoomed 2 per cent. In the review period, the departure of the swim and apparel categories had a negative impact of 2 percentage points and 3 percentage points to total company and Victoria’s Secret comparable sales, respectively.
Also Read – L Brands out with its December sales report
L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 3,074 company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are sold in more than 700 additional franchised locations worldwide.
