L Brands Reports October 2018 Sales

L Brands, Inc. (NYSE: LB) reported net sales of $860.5 million for the four weeks ended Nov. 3, 2018, an increase of 8 percent, compared to net sales of $794.1 million for the four weeks ended Oct. 28, 2017. Comparable sales increased 4 percent for the four weeks ended Nov. 3, 2018 compared to Nov. 4, 2017.

The company reported net sales of $2.775 billion for the 13 weeks ended Nov. 3, 2018, an increase of 6 percent, compared to net sales of $2.618 billion for the 13 weeks ended Oct. 28, 2017. Comparable sales increased 4 percent for the 13 weeks ended Nov. 3, 2018 compared to the 13 weeks ended Nov. 4, 2017.

The company reported net sales of $8.385 billion for the 39 weeks ended Nov. 3, 2018, an increase of 7 percent, compared to net sales of $7.809 billion for the 39 weeks ended Oct. 28, 2017. Comparable sales increased 3 percent for the 39 weeks ended Nov. 3, 2018 compared to the 39 weeks ended Nov. 4, 2017.

The company expects to report a third quarter loss per share of approximately $0.17. The reported loss per share includes a total charge of approximately $0.32 per share, which consists of an approximate pretax cash charge of $20 million related to the closure of its Henri Bendel business, and an approximate pretax non-cash impairment charge of $80 million related to certain Victoria’s Secret store assets. Excluding these charges, the company expects adjusted third quarter earnings per share to be approximately $0.15, compared to its previous guidance of $0.00 to $0.05, principally driven by outperformance at Bath & Body Works. The company will conduct its third quarter earnings call at 9 a.m. Eastern on Nov. 20.
http://investors.lb.com/phoenix.zhtml?c=94854&p=irol-newsArticle&ID=2376182

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