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current news

Victoria’s Secret Store Sales Rose 8% In April


(Filed Under Financial and General Interest News). Victoria’s Secret comparable store sales for April, in the U.S. and Canada, rose 8% over the same month last year. Meanwhile, Victoria’s Secret Direct sales dropped 3% from last year.

Overall, parent company L Brands, Inc. reported “net sales increased 9% to $717.6 million for the four weeks ended May 3, 2014, compared to net sales of $660.5 million for the four weeks ended May 4, 2013. Comparable stores sales increased 8% for the four weeks ended May 3, 2014.” These figures include all of what L Brands owns including Pink, Bath & Body Works, La Senza and Henri Bendel.

L Brands also reported company-wide “net sales of $2.391 billion for the 13 weeks ended May 3, 2014, an increase of 5% compared to sales of $2.268 billion for the 13 weeks ended May 4, 2013. Comparable stores sales increased 2% for the 13 weeks ended May 3, 2014.”

In the first quarter of this year, Victoria’s Secret stores sales rose more than 5% to $1.245 billion, up from $1.185 billion in 2013. In the quarter, sales at Victoria’s Secret Direct dropped slightly from $359.1 million to $358.3 million.

For the quarter “The company expects to report first quarter earnings per share of $0.50 to $0.52, versus its previous estimate of $0.44 to $0.49.” It noted that it will update its full-year earnings guidance on May 21.

As it reported its April sales, it also provided a breakdown of the number of stores it has in operation, indicating a portion of the increase in the number of lingerie stores it promised earlier this year. The number of Victoria’s Secret stores in the U.S. dropped by one from February 1, 2014, from 977 to 976 as of May 3rd (one was opened, two were closed). Meanwhile, six PINK U.S. stores were opened, raising the number from 83 to 89, and one Victoria’s Secret Canada store was added, raising the number to 25. Two Victoria’s Secret were added during the same period in the U.K., raising the total there to seven. In Canada, four La Senza stores were closed, dropping the total their to 153.

13 Victoria’s Secret Beauty & Accessories stores (which carry only a limited amount of lingerie, and are often located in airports around the world) were added earlier this year and two were closed, bringing the total to 209. Two VS International full assortment stores were opened, bringing the total to six. Three La Senza International stores were closed, dropping the total to 328.


more Financial and General Interest News >>

Published 05-08-2014 by -

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