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current news

Victoria’s Secret, Pink January Comps Up 4%


(Filed Under Financial and General Interest News). Comparable store and direct sales for Victoria’s Secret and Pink in North America rose 4% in January. Comparable sales for the stores alone were flat for the month.

Meanwhile, total North American store sales for Victoria’s Secret and Pink in fourth quarter of 2017 were down, $2.038 billion compared to $2.063 billion in the fourth quarter of 2016. The decline in 2017 was actually more significant than it might first appear since the company compared a 14 week fiscal fourth quarter in 2017 versus a 13 week quarter in 2016.

While the comparison may not be apples and apples, it is clear the brands’ direct business in North America did jump dramatically in the quarter, rising to $630.6 million versus $526.1 million during the similar period in 2016.

Total sales for Victoria’s Secret and Pink stores in North America in the 53 week fiscal full year 2017 were down to $5.879 billion, compared to $6.199 billion in the 52 week fiscal 2016 full year. Similarly the direct business for the two brands was down in fiscal 2017, $1.508 billion compared to $1.582 billion in fiscal 2016.

Parent L Brands, Inc. reported total company “net sales were $4.823 billion for the 14-week fourth quarter ended February 3, 2018, compared to $4.489 billion for the 13 weeks ended January 28, 2017.” In addition to Victoria’s Secret and Pink the company owns Bath & Body Works, La Senza and Henri Bendel.

“Net sales were $12.632 billion for the 53-week year ended February 3, 2018, compared to $12.574 billion for the 52 weeks ended January 28, 2017,” L Brands reported, claiming that “For the 53 weeks ended February 3, 2018, the exit of the swim and apparel categories had a negative impact of about 3 percentage points and 5 percentage points to total company and Victoria’s Secret comparable sales, respectively.” — NM


more Financial and General Interest News >>

Published 02-08-2018 by Nick Monjo

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