(Filed Under wholesale Lingerie News). February comparable sales at Victoria’s Secret and Pink stores in the U.S. and Canada rose 7% in February, while Victoria’s Secret direct sales dropped 6%. Parent company L Brands, which also owns Bath & Body Works, La Senza and Henri Bendel, reported a 7% sales increase for the four week period ended Feb. 28, 2015, registering at total of $806.1 million, compared to $750.0 million for the four-week period ended March 1, 2014.
In announcing the L Brands results, Amie Preston, chief investor relations officer reported, “our merchandise margin rate increased versus last year. February began with a focus on Valentine’s Day, which kicked off with a Super Bowl commercial. Mid-month, we transitioned to our spring getaway and sexiest push-up floorset and closed the month with our first ever swim special which aired on February 26th. March began with a continued focus on our sexiest push-ups and spring break and we’ll shift to feature our new and improved Fabulous collection later in the month.”
In explaining the sales drop at Victoria’s Secret direct, Preston stated “February sales decreased by 6%, as mid-teen growth in core categories was more than offset by the exit of apparel. The February merchandise margin rate was up significantly to last year, driven by the mix into core merchandise categories.”
Concluding her remarks, Preston added, “As you know, Easter is two weeks earlier than last year. We expect that this shift will have a positive impact to March comps of about 3 to 4 points, and therefore we expect March comps to be up mid single digits. We expect comps for the March/April time period combined will increase in the low single digit range.”
A listing of company-owned stores that was included with the February release showed L added one Pink store in the U.S. in February, bringing the total by the end of the month to 116. In addition, one Victoria’s Secret store was added in Canada during the month, raising the total there to 32.
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