Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - Bath & Body Works, Inc. | december2013salesrelease.htm |
Exhibit 99.1
L BRANDS REPORTS DECEMBER 2013 SALES;
UPDATES FOURTH QUARTER EARNINGS GUIDANCE
Columbus, Ohio, Jan. 9, 2014 - L Brands, Inc. (NYSE: LB) reported net sales of $2.098 billion for the five weeks ended Jan. 4, 2014, compared to net sales of $1.947 billion for the five weeks ended Dec. 29, 2012. The company reported a comparable store sales increase of 2 percent for the five weeks ended Jan. 4, 2014, compared to the five weeks ended Jan. 5, 2013.
The company reported net sales of $10.042 billion for the 48 weeks ended Jan. 4, 2014, an increase of 6 percent compared to net sales of $9.472 billion for the 48 weeks ended Dec. 29, 2012. The company reported a comparable store sales increase of 2 percent for the 48 weeks ended Jan. 4, 2014, compared to the 48 weeks ended Jan. 5, 2013.
The company now expects fourth quarter earnings per share of approximately $1.60, compared to its previous forecast of $1.67 to $1.82. The decrease versus its previous forecast is primarily the result of lower than forecasted merchandise margins due to incremental promotional activity.
To hear further commentary provided on L Brands’ prerecorded December sales message, call 1-866-639-7583 (1-866-NEWS-LTD), 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 2,659 specialty stores in the United States and its brands are sold in about 800 company-operated and franchised additional locations world-wide. 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
L Brands, Inc. cautions 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 December sales call 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 December sales call:
• | 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 a high volume of mall traffic and the possible lack of 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 into global markets and related risks; |
• | our relationships with independent licensees and franchisees; |
VICTORIA'S SECRET / BATH & BODY WORKS / PINK / LA SENZA / HENRI BENDEL
Three Limited Parkway Columbus, OH 43230 www.LB.com
• | our direct channel businesses; |
• | our failure to protect our reputation and our brand images; |
• | our failure to protect our trade names, trademarks and patents; |
• | the highly competitive nature of the retail industry generally and the segments in which we operate particularly; |
• | 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; |
• | 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; |
• | the disruption of production or distribution by labor disputes; and |
• | changing expectations regarding product safety due to new legislation; |
• | stock price volatility; |
• | our failure 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 costs; |
• | the inability of our manufacturers to deliver products in a timely manner and meet quality standards; |
• | 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 failure to comply with regulatory requirements; |
• | tax matters; and |
• | legal and compliance 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 December sales call to reflect circumstances existing after the date of this report 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 2012 Annual Report on Form 10-K.
For further information, please contact:
L Brands: | ||||
Investor Relations | Media Relations | |||
Amie Preston | Tammy Roberts Myers | |||
(614) 415-6704 | (614) 415-7072 | |||
apreston@lb.com | extcomm@lb.com | |||
VICTORIA'S SECRET / BATH & BODY WORKS / PINK / LA SENZA / HENRI BENDEL
Three Limited Parkway Columbus, OH 43230 www.LB.com
L BRANDS
DECEMBER 2013
Comparable Store Sales Increase (Decrease):
December 2013 | December 2012 | Year-to-Date 2013 | Year-to-Date 2012 | ||||||||
Victoria's Secret Stores | 3 | % | 0 | % | 2 | % | 7 | % | |||
Bath & Body Works | 1 | % | 7 | % | 1 | % | 6 | % | |||
La Senza | (7 | %) | (9 | %) | 2 | % | (3 | %) | |||
L Brands | 2 | % | 3 | % | 2 | % | 6 | % | |||
Victoria's Secret Direct Sales | 1 | % | 0 | % | (2 | %) | 2 | % | |||
Total Company-Operated Stores:
Stores | Year-to-date | Stores | ||||||
Operating | Operating | |||||||
at 2/2/13 | Opened | Closed | at 1/4/14 | |||||
Victoria's Secret Stores | 1,019 | 54 | (10 | ) | 1,063 | |||
Bath & Body Works | 1,571 | 8 | (12 | ) | 1,567 | |||
Henri Bendel | 29 | — | — | 29 | ||||
Total United States | 2,619 | 62 | (22 | ) | 2,659 | |||
La Senza Canada | 158 | — | (1 | ) | 157 | |||
Bath & Body Works Canada | 71 | 8 | — | 79 | ||||
Victoria's Secret Canada | 26 | 8 | — | 34 | ||||
Victoria's Secret UK | 2 | 3 | — | 5 | ||||
Total L Brands | 2,876 | 81 | (23 | ) | 2,934 | |||
VICTORIA'S SECRET / BATH & BODY WORKS / PINK / LA SENZA / HENRI BENDEL
Three Limited Parkway Columbus, OH 43230 www.LB.com