L Brands, through Bath & Body Works, Victoria’s Secret and PINK, is an international company. The company operates 2,897 company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are also sold in more than 700 franchised locations worldwide.
L Brands, Inc. (NYSE: LB) announced first quarter financial results. On May 4th the company reported its strategy to drive long term shareholder value. The company reiterated its commitment to establishing Bath & Body Works as a pureplay public company and is taking the necessary steps to prep Victora’s Secret Lingerie, Victoria’s Secret Beauty and PINK businesses to operate separately.
L Brands reported net sales of USD 1.65 Billion for the first quarter, a short fall compared to USD 2.62 Billion the same period a year ago. Total Bath & Body Works sales in North America amounted to USD 712.7 Million compared to USD 870.7 Million last year. Bath & Body Works comparable sales increased by 20% in the time period that stores were open. The company reported a loss per share of USD 1.07 for the first quarter as the operating loss garnered up USD 317.7 Million.