L.L.Bean Rebrands to Be More Digital

Consistent with expectations disclosed in the company’s July 28, 2020 business update, net sales were $2.319 billion for the quarter ended Aug. 1, 2020, a decrease of 20 percent compared to sales of $2.902 billion for the quarter ended Aug. 3, 2019. Total Bath & Body Works second quarter sales in the United States and Canada were $1.197 billion, an increase of 13 percent compared to $1.061 billion last year. Total Victoria’s Secret second quarter sales in the United States and Canada were $977.5 million, a decrease of 39 percent compared to $1.606 billion last year. Reported loss per share for the second quarter ended Aug. 1, 2020, was $0.18 compared to earnings per share of $0.14 for the quarter ended Aug. 3, 2019. Second quarter operating income was $44.0 million compared to $174.6 million last year, and net loss was $49.6 million compared to net income of $37.6 million last year.

Here’s a headline for you: Print is alive and well with consumers everywhere. I know it’s different than the headlines you’ve been seeing lately, but it happens to be a fact. True, the magazine media industry is in a transitional moment, but a few select stats can easily paint a picture that doesn’t reflect the state of our industry. At Hearst, we value our core print business, and readers do as well. The most recent report for the first half of 2017 shows that, for the industry as a whole, print circulation is consistent, and, at Hearst, it was even slightly up. What’s more, more than half of our portfolio has seen audience growth, which is especially impressive considering that many of our brands have increased the cost of their subscriptions. Magazines have successfully extended across digital platforms, and all expressions of our brands are consistent or improving in terms of audience numbers. For example, Good Housekeeping’s circulation is 4.3 million, where it has been for many years. At the same time, the brand has seen an increase in its overall audience, with robust traffic online and millions of social media followers across platforms. All boats are lifted. Print enhances digital and vice versa. Click Read More below for more of the story.

Two Sides had filed a complaint following an advertisement broadcast by DocuSign claiming that the use of electronic signatures notably made it possible to save CO2 and save trees. By confirming that such environmental communication is contrary to professional recommendations, this decision will help combat the all too frequent unfounded allegations promoting digital tools at the expense of paper.