L Brands posts record 2014 following strong holiday sales season
A record holiday season at L Brands carried the retailer to a record year. The Columbus-based owner of Victoria’s Secret and Bath & Body Works last week reported its best-ever sales of $11.45 billion for the year, up 6 percent from $10.77 billion in 2013. The year’s profit was $1.04 billion, or $3.50 a share, up 15 percent from $903 million, or $3.05 a share. Same-store sales rose 4 percent for the year ended Jan. 31.
L Brands in the fourth quarter posted a record $4.07 billion in sales with a profit of $564.8 million, or $1.89 a share. Same-store sales for the final quarter of the year were up 6 percent including 4% at Victoria’s Secret and 8% Bath & Body Works stores. L Brands (NYSE:LB) did say it projects 2015 earnings to be between $3.45 and $3.65 a share.
Looking forward, the company forecast earnings of $0.50 to $0.55 per share for the first quarter and $3.45 to $3.65 per share for the full year 2015. Analysts currently expect the company to earn $0.62 per share for the first quarter and $3.83 per share for the full year 2015. The company also said it expects to report February same-store sales to increase in the mid-single digit range.
The company has grown to 2,969 company-owned stores in the U.S., Canada and the United Kingdom, plus more than 600 other stores franchised worldwide. In addition to Victoria’s Secret and Bath & Body Works, the company also runs the Pink, La Senza and Henri Bendel chains.