While Victoria's Secret celebrates its annual fashion show on Thursday, a parent company based in Columbus, Ohio, L Brands, Inc. reported that the poor results for the underwear brand continue to diminish its significant sales growth in October.
The total net sales of L brands in October totaled $ 860.5 million (approximately € 758 million), up 8% over $ 794.1 million (around € 700 million), which was the same in the same month as the past year. Comparable sales over this 4-week period increased by 4%.
However, comparable sales of Victoria's Secret did not change, influencing the 11% increase in comparable sales of the impressive "L" brand "Bath & Body Works" brand.
The company also announced that sales in the third quarter ended November 3, 2018 amounted to 2,775 million US dollars (approximately 2,446 million euros), an increase of 6% over the previous 2618 million (approximately 2308 million euros). which reflects a comparable increase in sales by 4%.
Victoria's secret sales amounted to $ 1,529 million (approximately € 1,348 million), reflecting a 2% reduction in comparable sales, while a comparable increase in sales of 13% increased the sale of Bath & Body Works to 956.2 million.
Until now, the company's total sales have increased by 7% to USD 8.385 million (approximately EUR 7.392 million), compared to USD 7.809 million (approximately EUR 6884 million), which is the same period since the nine months of the previous year, increasing by 3 % Victoria's Secret, which is once again comparable to a 1% decline in sales, has partially offset the 3% increase in Bath & Body Works's comparable products.
Taking into account the latest sales results, L Brands plans to announce a stock loss of about $ 0.17 in the third quarter. This includes premature cash withdrawals of USD 20 million from the closure of Henri Bendel, as well as depreciation of non-monetary assets at USD 80 million (approximately EUR 70 million) before tax related to certain assets of the company. Victoria Secret
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