Tuesday , June 22 2021

The negative results of Victoria's Secret increased sales in October of L Brands



While Victoria's Secret celebrated the annual fashion show on Thursday, a parent company based in Columbus, Ohio, L Brands, Inc., reported that the poor results of the brand's bottom line continue to jeopardize its strong sales growth in October.

Elsa Hosk wears "Fantasi Bra" Victoria's Secret 2018 created in collaboration with Atvaro Svarovski – Instagram: @ victoriassecret

The total net sales of Brands in October amounted to $ 860.5 million (about 758 million euros), which is 8% more than $ 794.1 million (about 700 million euros) in the same month of the year. Comparative sales in This 4-week period increased by 4%.

However, comparable sales to Victoria's Secret remained unchanged, which resulted in an impressive 11% increase in the comparative sales of the brand "L" of the "Bath & Bodi Vorks" Brands.

The company also announced that sales in the third quarter ended on November 3, 2018 amounted to $ 2,775 million (about 2446 million euros), an increase of 6% compared to the previous 2618 million (about 2308 million euros) reflecting comparative growth sales of 4%.

Victoria's Secret sales reached 1529 million dollars (about 1348 million euros), reflecting a decline in comparable sales of 2%, while a comparative sales increase of 13% increased the sale of Bath & Bodi Vorks to 956.2 million.

So far this year, the total sales of the company rose by 7% to $ 8,385 million (about 7,392 million euros), compared to $ 7,809 million (about 6884 million euros) in the same period last year, with an increase of 3%. Once again, a comparable 1% drop in Victoria's Secret is partially over 3% in comparison with Bath & Bodi Vorks.

In the light of the latest sales results, L Brands expects to announce a loss per share in the third quarter of about $ 0.17. This includes a $ 20 million pre-tax payment from Henry Bendel's closure, as well as the cost of depreciating non-monetary assets of $ 80 million (about 70 million euros) before taxes that relate to certain assets of the company. Victoria Secret

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