Bonno van der Putten; #retail Monarch Capital-Priv. Equity & Venture Capital-Prof. Football-Luxury Brands-EDM Events-Celeb DJs-Entertainment-Emerging markets
270 days ago
L Brands, owner of Victoria’s Secret, announced Key Sales Metrics up 3%
L Brands, owner of Victoria’s Secret and Bath & Body Works, announced that sales at stores open at least a year rose 3% in May, which is better than most projections.
Wall Street was looking for a 2.3% increase, according to analyst estimates.
Sales at stores open at least a year is a key indicator of a retailer’s health because it excludes the volatility of stores recently opened or closed.
Total revenue for the month climbed 4% to $763.6 million.
For the 17 weeks ended May 31, sales at stores open at least a year rose 2%. Total revenue increased 5 percent to $3.16 billion.
With it partners L Brands operates 2,928 stores in the U.S., Canada, the U.K. and Europe. Its other brands include Pink, La Senza and Henri Bendel
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