(Filed Under Financial and General Interest News). Victoria’s Secret and Pink November comparable store sales in North America were up 6%, while Victoria’s Secret’s direct online and catalog businesses rose by 12%.
In a broadcast to announce the results, Amie Preston, chief investor relations officer, added, referring to the stores, “The merchandise margin rate for November was up to last year. We are well-positioned for holiday which started with record results over the Black Friday weekend.”
Referring to the direct Victoria’s Secret business, she explained, “mid-teens growth in core categories more than offset the exit of apparel,” adding “The November merchandise margin rate was up significantly to last year, driven primarily by the mix into core merchandise categories.”
Meanwhile, parent company L Brands, Inc. “reported net sales of $1.169 billion for the four weeks ended November 28, 2015, an increase of 8 percent, compared to net sales of $1.078 billion for the four weeks ended November 29, 2014. Comparable store sales increased 7 percent for the four weeks ended November 28, 2015.”
L Brands also operates Bath & Body Works, the La Senza lingerie stores in Canada and Henri Bendel. There are a total of 3,008 company-owned stores in North America and the United Kingdom, and it sells its brands in more than 700 additional non-company-owned locations worldwide.
L Brands as a whole reported “net sales of $8.928 billion for the 43 weeks ended November 28, 2015, an increase of 5 percent compared to net sales of $8.464 billion for the 43 weeks ended November 29, 2014. Comparable store sales increased 5 percent for the 43 weeks ended November 28, 2015.”
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