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L Brands Reports March 2014 Sales

COLUMBUS, Ohio, April 10, 2014 /PRNewswire/ -- L Brands, Inc. (NYSE: LB) reported net sales increased 3% to $923.7 million for the five weeks ended April 5, 2014, compared to net sales of $894.8 million for the five weeks ended April 6, 2013.  The company reported comparable store sales for the five weeks ended April 5, 2014 decreased 1%, in line with expectations, as the later Easter timing this year negatively impacted March comparable stores sales by 2 to 3 percentage points.

L Brands, Inc. logo.

The company reported net sales of $1.674 billion for the nine weeks ended April 5, 2014, an increase of 4% compared to sales of $1.607 billion for the nine weeks ended April 6, 2013.  The company reported flat comparable store sales for the nine weeks ended April 5, 2014, compared to the nine weeks ended April 6, 2013. 

To hear further commentary provided on L Brands' prerecorded March 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 2,917 company-owned specialty stores in the United States, Canada and the United Kingdom and its brands are sold in about 600 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 March 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 March 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 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;
  • 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;
    • disruption due to labor disputes; and
    • changing expectations regarding product safety due to new legislation;
  • fluctuations in foreign currency exchange rates;
  • 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-related 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 maintain the security of customer, associate, supplier or company information;
  • 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 March 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 2013 Annual Report on Form 10-K.

L BRANDS
MARCH 2014

 

Comparable Store Sales Increase (Decrease):


 

 

 

March

2014


 

 

 

March

2013


 

 

Year

To Date

2014


 

 

Year

To Date

2013











Victoria's Secret1

(1%)


2%


0%


3%


Bath & Body Works1

(2%)


4%


0%


2%


L Brands

(1%)


3%


0%


3%


Victoria's Secret

Direct Sales

 

1%


 

(9%)


 

1%


 

(7%)



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

 

Total Company-Owned Stores:




Stores


Stores



Operating

Operating



at 2/1/14

Opened

  Closed

at 4/5/14







Victoria's Secret U.S.


1,060

1

(1)

1,060

Victoria's Secret Canada


34

-

-

34

   Total Victoria's Secret


1,094

1

(1)

1,094







Bath & Body Works U.S.


1,559

-

(5)

1,554

Bath & Body Works Canada 


79

2

(1)

80

   Total Bath & Body Works


1,638

2

(6)

1,634







Victoria's Secret U.K.


5

2

-

7

Henri Bendel


29

-

-

29

La Senza Canada


157

-

(4)

153

Total L Brands


2,923

5

(11)

2,917

 

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SOURCE L Brands, Inc.

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