×
115
Fashion Jobs
L'OREAL GROUP
Senior Manager - Digital Marketing & D2C, Kerastase
Permanent · Mumbai
NIKE
Lead Product Management – ed&a, Icc, India
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
PUMA
Senior Manager - Golf Sales (Cpg-Cobra Puma Golf)
Permanent · Bengaluru
PUMA
Manager - Accounts Payable
Permanent · Bengaluru
PUMA
Senior Manager – Teamsport Sales
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
PUMA
Manager – Customer Reconciliation And Accounts
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Sap bi Lead Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
SAAHRA
Graphic Design Summer Internships
Internship · NEW DELHI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
BROADCAST THE COMPANY
Business Developement
Internship · MUMBAI
RELIANCE INDUSTRIES LTD
Sales Officer-Reliance Retail-tg
Permanent · Nirmal
GOKALDAS EXPORTS LTD
Safety Officer
Permanent · Madanapalle
GOKALDAS EXPORTS LTD
Assistant Manager - HR (Yeshwanthpur)
Permanent · Bengaluru
Published
Feb 28, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

L Brands profits take a hit in 2018; shares plummet

Published
Feb 28, 2019

Victoria’s Secret parent company L Brands, Inc. reported dips in Q4 and full-year 2018 earnings on Wednesday and announced a disappointing EPS outlook of between $2.20 and $2.60 for fiscal 2019, leading shares in the company to tumble more than 8% in extended trading, according to figures cited by CNBC.


Victoria's Secret has consistently slowed progress at L Brands throughout fiscal 2018 - Instagram: @victoriassecret

 
As previously reported, net sales for the thirteen-week fourth quarter ended February 2, 2019, totaled $4.852 billion, a slight increase from the $4.823 billion achieved in fiscal 2017’s fourteen-week fourth quarter.
 
Operating income in Q4 2018, however, came to $799.4 million, down from $986.6 million in the prior-year period. Likewise, net income was $540.1 million, compared to $664.1 million, making for earnings per share (EPS) of $1.94, compared to $2.33 in the equivalent period in the previous year.

Part of this decline was due to the fact that L Brands’ fourth-quarter earnings in 2018 were negatively impacted by $99.24 million in expenses related to the company’s sale of La Senza, charges which also dragged down the group’s annual profits.
 
The company’s full-year operating income totaled $1.237 billion, compared to $1.728 billion in fiscal 2017, while net income came to $643.9 million, or $2.31 per share, compared to $983.0 million, or $3.42 per share.
 
Full-year net sales were $13.237 billion, up from $12.632 billion in fiscal 2017. Total company comparable sales increased 3%, as a strong 11% comps rise at L Brands’ Bath & Body Works banner was undermined by a 2% decrease at Victoria’s Secret.

The lingerie brand has been a consistent drag on its parent company’s results over the last year as it  has struggled to keep up with changing consumer tastes, which are increasingly prioritizing inclusivity, body positivity and comfort.

The disconnect between Victoria’s Secret and its target market was notably thrown into focus at the end of last year by the controversy caused by CMO Ed Razek’s comments on transgender and plus-size models, as well as by the rock bottom TV ratings achieved by the most recent Victoria’s Secret Fashion Show.

Copyright © 2021 FashionNetwork.com All rights reserved.