L Brands Reports Record December 2015 Sales
January 07 2016 - 7:15AM
L Brands, Inc. (NYSE:LB) reported net sales of $2.415 billion for
the five weeks ended Jan. 2, 2016, an increase of 9 percent,
compared to net sales of $2.207 billion for the five weeks ended
Jan. 3, 2015. Comparable store sales increased 8 percent for
the five weeks ended Jan. 2, 2016.
Leslie H. Wexner, chairman and CEO, commented,
“We delivered our best December ever. Victoria’s Secret, PINK
and Bath & Body Works are great brands with high emotional
content, and our teams worked hard to deliver exceptional
merchandise and experiences to our customers. We remain
focused on execution and transitioning to spring with continued
momentum.”
The company reported net sales of $11.343
billion for the 48 weeks ended Jan. 2, 2016, an increase of 6
percent compared to net sales of $10.671 billion for the 48 weeks
ended Jan. 3, 2015. Comparable store sales increased 6
percent for the 48 weeks ended Jan. 2, 2016.
To hear further commentary provided on L Brands’
prerecorded December sales message, call 1-866-639-7583 or log onto
www.LB.com for an audio replay.
ABOUT L BRANDS:L Brands, through
Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri
Bendel, is an international company. The company operates
3,010 company-owned specialty stores in the United States, Canada
and the United Kingdom, and its brands are sold in more than 700
additional noncompany-owned locations worldwide. The
company’s products are also available online at
www.VictoriasSecret.com, www.BathandBodyWorks.com,
www.HenriBendel.com and www.LaSenza.com.
Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995
L Brands, Inc. cautions that any forward-looking statements (as
such term is defined in the Private Securities Litigation Reform
Act of 1995) contained in this press release or the December sales
call involve risks and uncertainties and are subject to change
based on various factors, many of which are beyond our control.
Accordingly, our future performance and financial results may
differ materially from those expressed or implied in any such
forward-looking statements. Words such as “estimate,” “project,”
“plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,”
“potential” and any similar expressions may identify
forward-looking statements. Risks associated with the following
factors, among others, in some cases have affected and in the
future could affect our financial performance and actual results
and could cause actual results to differ materially from those
expressed or implied in any forward-looking statements included in
this press release or the December sales call:
- general economic conditions, consumer confidence, consumer
spending patterns and market disruptions including severe weather
conditions, natural disasters, health hazards, terrorist
activities, financial crises, political crises or other major
events, or the prospect of these events;
- the seasonality of our business;
- the dependence on a high volume of mall traffic and the
availability of suitable store locations on appropriate terms;
- our ability to grow through new store openings and existing
store remodels and expansions;
- our ability to successfully expand into global markets and
related risks;
- our relationships with independent franchise, license and
wholesale partners;
- our direct channel businesses;
- our failure to protect our reputation and our brand
images;
- our failure to protect our trade names, trademarks and
patents;
- the highly competitive nature of the retail industry generally
and the segments in which we operate particularly;
- consumer acceptance of our products and our ability to keep up
with fashion trends, develop new merchandise and launch new product
lines successfully;
- our ability to source, distribute and sell goods and materials
on a global basis, including risks related to:
- political instability;
- duties, taxes and other charges;
- legal and regulatory matters;
- volatility in currency exchange rates;
- local business practices and political issues;
- potential delays or disruptions in shipping and transportation
and related pricing impacts;
- disruption due to labor disputes; and
- changing expectations regarding product safety due to new
legislation;
- fluctuations in foreign currency exchange rates;
- stock price volatility;
- our failure to maintain our credit rating;
- our ability to service or refinance our debt;
- our ability to retain key personnel;
- our ability to attract, develop and retain qualified employees
and manage labor-related costs;
- the inability of our manufacturers to deliver products in a
timely manner and meet quality standards;
- fluctuations in product input costs;
- fluctuations in energy costs;
- increases in the costs of mailing, paper and printing;
- claims arising from our self-insurance;
- our ability to implement and maintain information technology
systems and to protect associated data;
- our failure to maintain the security of customer, associate,
supplier or company information;
- our failure to comply with regulatory requirements;
- tax matters; and
- legal and compliance matters.
We are not under any obligation and do not intend to make
publicly available any update or other revisions to any of the
forward-looking statements contained in this press release or the
December sales call to reflect circumstances existing after the
date of this press release or the December sales call or to reflect
the occurrence of future events even if experience or future events
make it clear that any expected results expressed or implied by
those forward-looking statements will not be realized. Additional
information regarding these and other factors can be found in Item
1A. Risk Factors in our 2014 Annual Report on Form 10-K.
L BRANDSDECEMBER
2015
Comparable Store Sales Increase (Decrease):
|
December |
|
Year-to-Date |
|
2015 |
|
2014 |
|
2015 |
|
2014 |
|
|
|
|
|
|
|
|
Victoria’s Secret1 |
|
8 |
% |
|
|
3 |
% |
|
|
6 |
% |
|
|
3 |
% |
Bath & Body Works1 |
|
6 |
% |
|
|
5 |
% |
|
|
6 |
% |
|
|
5 |
% |
L Brands |
|
8 |
% |
|
|
4 |
% |
|
|
6 |
% |
|
|
4 |
% |
Victoria’s Secret |
|
|
|
|
|
|
|
Direct Sales |
|
14 |
% |
|
(1 |
%) |
|
2 |
% |
|
0 |
% |
1 – Results include company-owned stores in the United States
and Canada.
Total Company-Owned Stores:
|
|
Stores |
|
Stores |
|
|
Operating |
Operating |
|
|
at 1/31/15 |
Opened |
Closed |
at 1/2/16 |
|
|
|
|
|
|
Victoria's Secret
U.S. |
|
983 |
12 |
|
(3 |
) |
992 |
PINK U.S. |
|
115 |
15 |
|
(3 |
) |
127 |
Victoria's Secret
Canada |
|
31 |
6 |
|
- |
|
37 |
PINK Canada |
|
10 |
- |
|
(1 |
) |
9 |
Total Victoria’s
Secret |
|
1,139 |
33 |
|
(7 |
) |
1,165 |
|
|
|
|
|
|
Bath & Body Works
U.S. |
|
1,558 |
21 |
|
(4 |
) |
1,575 |
Bath & Body Works
Canada |
|
88 |
10 |
|
- |
|
98 |
Total Bath &
Body Works |
|
1,646 |
31 |
|
(4 |
) |
1,673 |
|
|
|
|
|
|
Victoria’s Secret
U.K. |
|
8 |
3 |
|
- |
|
11 |
PINK U.K. |
|
2 |
- |
|
- |
|
2 |
Henri Bendel |
|
29 |
- |
|
- |
|
29 |
La Senza Canada |
|
145 |
1 |
|
(16 |
) |
130 |
Total L Brands
Stores |
|
2,969 |
68 |
|
(27 |
) |
3,010 |
For further information, please contact:
L Brands:
Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com
Media Relations
Tammy Roberts Myers
(614) 415-7072
communications@lb.com
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