US-based L Brands Inc., which owns labels like Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, has reported net sales of US $ 2.438 billion for the five weeks ended December 31, 2016, marking an increase of 1 per cent, compared to net sales of US $ 2.415 billion for the five weeks ended January 2, 2016. However, comparable sales decreased by 1 per cent for the current five weeks period.
Additionally, the company’s net sales stood at US $ 11.769 billion for the fourth quarter ending December 31, 2016, up 4 per cent compared to net sales of US $ 11.343 billion for the fourth quarter ending January 2, 2016. However, comparable sales registered an increase of 2 per cent for the fourth quarter of current financial year.
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Also Read – L Brands posts November sales
It may be pertinent to mention here that the company now expects fourth quarter earnings per share to be toward the lower end of its previous guidance of US $ 1.85-2.