L Brands, Inc. reported net sales of $842.1 million for the four weeks ended Aug. 26, 2017, a decrease of 1 percent, compared to net sales of $852.9 million for the four weeks ended Aug. 27, 2016. Comparable sales decreased 4 percent for the four weeks ended Aug. 26, 2017. For August, the exit of the swim and apparel categories had a negative impact of about 2 percentage points and 3 percentage points to total company and Victoria’s Secret comparable sales, respectively. The company reported net sales of $6.034 billion for the 30 weeks ended Aug. 26, 2017, a decrease of 5 percent compared to net sales of $6.356 billion for the 30 weeks ended Aug. 27, 2016. Comparable sales decreased 8 percent for the 30 weeks ended Aug. 26, 2017. Click Read More below for additional detail.
After 93 years as The Reader’s Digest Association, Inc., the company today announced a new corporate name, Trusted Media Brands, Inc. (TMBI), a historic move that addresses its significant and transformative growth.
A powerhouse of iconic, multi-platform brands, Trusted Media Brands, Inc. includes Reader’s Digest, Taste of Home, Simple & Delicious, The Family Handyman, Country, Country Woman, Birds & Blooms, Farm & Ranch Living, Reminisce, EnrichU, The Taste Network and Haven Home Media. The company’s new website,TMBI.com, also launched today, housing the entire brand portfolio.
“The company has undergone a complete turnaround and transformation over the past 24 months. We’ve changed our business model to connect with consumers across all brands and through a variety of channels where readers want to engage,” said Bonnie Kintzer, President and CEO of Trusted Media Brands, Inc. “As we head toward our century milestone, it’s appropriate that our new company name reflects the culmination of those changes and the entity we have become – a modern, visionary, brand-driven multiplatform media business. This includes our flagship title, Reader’s Digest, as well as all of the valued brands that our readers trust as sources of information and inspiration in their daily lives.”
more at: http://www.pubexec.com/article/press-release-historic-move-readers-digest-association-inc-changes-name-trusted-media-brands-inc/