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L Brands Reports April 2016 Sales

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COLUMBUS, Ohio, May 05, 2016 (GLOBE NEWSWIRE) -- L Brands, Inc. (NYSE: LB) reported net sales increased 2% to  $737.5 million for the four weeks ended April 30, 2016, compared to net sales of $724.6 million for the four weeks ended May 2, 2015.  Comparable sales for the four weeks ended April 30, 2016, increased 1%.

The company reported net sales of $2.614 billion for the first quarter ended April 30, 2016, an increase of 4% compared to sales of $2.512 billion for the quarter ended May 2, 2015.  Comparable sales for the first quarter ended April 30, 2016, increased 3%.

The company expects to report adjusted first quarter earnings per share at the high end of its previous guidance of $0.50 to $0.55.

To hear further commentary provided on L Brands' prerecorded April sales message, call 1-866-639-7583, or log onto www.LB.com for an audio replay. 

ABOUT L BRANDS:
L Brands, through Victoria's Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company.  The company operates 3,038 company-owned specialty stores in the United States, Canada, the United Kingdom and China, and its brands are sold in more than 700 additional franchised locations worldwide.  The company's products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or the April sales call or made by our company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as "estimate," "project," "plan," "believe," "expect," "anticipate," "intend," "planned," "potential" and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release or the April sales call or otherwise made by our company or our management:

  • general economic conditions, consumer confidence, consumer spending patterns and market disruptions including severe weather conditions, natural disasters, health hazards, terrorist activities, financial crises, political crises or other major events, or the prospect of these events;
  • the seasonality of our business;
  • the dependence on mall traffic and the availability of suitable store locations on appropriate terms;
  • our ability to grow through new store openings and existing store remodels and expansions;
  • our ability to successfully expand internationally and related risks;
  • our relationships with independent franchise, license and wholesale partners;
  • our direct channel businesses;
  • our ability to protect our reputation and our brand images;
  • our ability to attract customers with marketing, advertising and promotional programs;
  • our ability to protect our trade names, trademarks and patents;
  • the highly competitive nature of the retail industry and the segments in which we operate;
  • consumer acceptance of our products and our ability to keep up with fashion trends, develop new merchandise and launch new product lines successfully;
  • our ability to source, distribute and sell goods and materials on a global basis, including risks related to:

    • political instability, significant health hazards, environmental hazards or natural disasters;
    • duties, taxes and other charges;
    • legal and regulatory matters;
    • volatility in currency exchange rates;
    • local business practices and political issues;
    • potential delays or disruptions in shipping and transportation and related pricing impacts;
    • disruption due to labor disputes; and
    • changing expectations regarding product safety due to new legislation;





  • our geographic concentration of supplier and distribution facilities in central Ohio;
  • fluctuations in foreign currency exchange rates;
  • stock price volatility;
  • our ability to pay dividends and related effects;
  • our ability to maintain our credit rating;
  • our ability to service or refinance our debt;
  • our ability to retain key personnel;
  • our ability to attract, develop and retain qualified employees and manage labor-related costs;
  • the ability of our manufacturers to deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations;
  • fluctuations in product input costs;
  • fluctuations in energy costs;
  • increases in the costs of mailing, paper and printing;
  • claims arising from our self-insurance;
  • our ability to implement and maintain information technology systems and to protect associated data;
  • our ability to maintain the security of customer, associate, supplier or company information;
  • our ability to comply with regulatory requirements;
  • legal and compliance matters; and
  • tax matters.

We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release or the April sales call to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in Item 1A. Risk Factors in our 2015 Annual Report on Form 10-K.

 
L BRANDS
APRIL 2016
 
Comparable Sales Increase (Decrease):
    
 April
Total company comps
(including direct sales)

 First Quarter
Total company comps
(including direct sales)

  2016   2015   2016   2015 
        
Victoria's Secret Stores1 (1%)  (3%)  2%  3%
Bath & Body Works1 5%  0%  6%  5%
L Brands2  1%   (2%)  3%  3%
                

1 – Results include company-owned stores in the United States and Canada and direct sales.
2 – Results include company-owned stores in the United States, Canada and the UK and direct sales.

    
 April
Store only comps
 First Quarter
Store only comps
  2016   2015   2016   2015 
        
Victoria's Secret Stores1 (3%)  0%  1%  5%
Bath & Body Works1 4%  (2%)  4%  4%
L Brands2  0%   (1%)  2%  5%
                

1 – Results include company-owned stores in the United States and Canada.
2 – Results include company-owned stores in the United States, Canada and the UK.

 
Total Sales (Millions):
    
 First
Quarter
 2016

 First
Quarter
 2015

    
Victoria's Secret Stores1$1,381.2  $1,345.6 
Victoria's Secret Direct 359.7   338.3 
Total Victoria's Secret$1,740.9  $1,683.9 
Bath & Body Works1$586.7  $554.0 
Bath & Body Works Direct 73.5   59.3 
Total Bath & Body Works$660.2  $613.3 
VS & BBW International2$  95.2  $91.5 
Other$117.5  $123.2 
L Brands$ 2,613.8  $  2,511.9 
        

1 – Results include company-owned stores in the United States and Canada.
2 – Results include retail sales from company-owned stores outside of the United States and Canada, royalties associated with franchised stores and wholesale sales.

 
Total Company-Owned Stores:
         
  Stores     Stores
  Operating     Operating
  at 1/30/16 Opened Acquired Closed at 4/30/16
            
Victoria's Secret U.S. 990 4-  (2) 992
PINK U.S. 128 1-  -  129
Victoria's Secret Canada 37 --  -  37
PINK Canada 9 --  -  9
Total Victoria's Secret 1,164 5-  (2) 1,167
         
Bath & Body Works U.S. 1,574 3-  (1) 1,576
Bath & Body Works Canada  98 1-  -  99
Total Bath & Body Works 1,672 4   (1) 1,675
         
Victoria's Secret U.K. 12 --  -  12
PINK U.K. 2 1-  -  3
Victoria's Secret Beauty and Accessories - 126  -  27
Henri Bendel 29 --  -  29
La Senza Canada 126 --  (1) 125
Total L Brands Stores 3,005 1126  (4) 3,038



 
Total Noncompany-Owned Stores:
         
  Stores  

 

   Stores
  Operating   Operating
  at 1/30/16 Opened  Closed Transferred at 4/30/16
         
Victoria's Secret Beauty & Accessories 373 14 (5) (26) 356
Victoria's Secret 16 1 -  -  17
PINK 3 - -  -  3
Bath & Body Works 125 6 (1) -  130
La Senza 221 - (4) -  217
Total   738 21 (10) (26) 723
         

 

For further information, please contact: L Brands: Investor Relations Amie Preston (614) 415-6704 apreston@lb.com Media Relations Tammy Roberts Myers (614) 415-7072 communications@lb.com

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