(Filed Under Financial and General Interest News). L Brands, Inc., parent to Victoria’s Secret and La Senza among others, reported “Earnings per share for the 13-week fourth quarter ended February 1, 2014, were $1.65 compared to adjusted earnings per share of $1.76 for the 14-week fourth quarter ended February. 2, 2013. Adjusted earnings per share for the prior year on a 13-week basis were approximately $1.68.”
“Net income was $489.6 million (13 weeks) compared to an adjusted $519.2 million last year (14 weeks).
For all of 2013, “Earnings per share for the 52-week year ended February. 1, 2014, were $3.05 compared to adjusted earnings per share of $2.92 for the 53-week year ended Feb. 2, 2013. Earnings per share for the full year increased 7% compared to adjusted earnings per share for the prior year on a 52-week basis of approximately $2.84. Operating income was $1.743 billion (52 weeks) in 2013 compared to adjusted operating income of $1.707 billion in 2012 (53 weeks). Excluding the extra week last year, operating income dollars increased by approximately 5% for the full year 2013. Net income was $903.0 million (52 weeks) compared to adjusted net income of $866.7 million in 2012 (53 weeks).”
L Brands “reported a comparable stores sales increase of 2% for the 52-week year ended February 1, 2014, compared to the 52 weeks ended February 2, 2013. Net sales were $10.773 billion for the 52-week year ended February 1, 2014, compared to $10.459 billion for the 53 weeks ended February 2, 2013.”
For the full year 2014 the company said it expects “earnings per share to be between $3.00 and $3.20, including earnings per share between $0.44 and $0.49 in the first quarter.” L Brands also “expects to report February comparable store sales in line with its previous guidance for flat to up low-single digit.”
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