First Quarter 2018 Consolidated Results • Operating revenues were $723.0 million, compared to $773.5 million in the first quarter of 2017. • Favorable changes in foreign currency exchange rates benefited revenues by $7.5 million. • Same store, day adjusted (1) operating revenues declined 7.2%, an improvement compared to the 8.8% decline in the fourth quarter of 2017. The improvement was due to stronger digital advertising revenue and our strategic subscriber pricing initiatives. • Total digital revenues increased 9% to $255.5 million, or approximately 35% of total revenue. • GAAP net losses were $0.4 million, including $14.4 million of after-tax restructuring, asset impairment charges and other costs. Click Read More below for additional information.
L Brands, Inc. (NYSE: LB) reported net sales of $2.477 billion for the five weeks ended Jan. 5, 2019, compared to net sales of $2.516 billion for the five weeks ended Dec. 30, 2017. Comparable sales were flat for the five weeks ended Jan. 5, 2019, compared to the five weeks ended Jan. 6, 2018.
The company reported net sales of $12.457 billion for the 48 weeks ended Jan. 5, 2019, compared to net sales of $11.592 billion for the 48 weeks ended Dec. 30, 2017. Comparable sales increased 3 percent for the 48 weeks ended Jan. 5, 2019, compared to the 48 weeks ended Jan. 6, 2018.
The company expects to report adjusted fourth quarter earnings per share towards the higher end of its previous guidance of $1.90 to $2.10, not including a preliminary estimated pretax charge, principally non-cash, related to the sale of La Senza of approximately $80 million, or $0.15 per share. The company closed on the previously announced sale of the La Senza business to an affiliate of Regent LP on Jan. 6, 2019.