The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States —L Brands Inc. reported a 63 percent rise in same-store sales on Wednesday, helped by strong demand for Bath & Body Work's sanitizers and hand creams, sending its shares up about 4 percent in extended trading. The strong growth was fuelled by the skincare brand, which posted 123 percent increase in comparable sales in the second quarter. Victoria's Secret saw comparable sales increase 28 percent in the same quarter.
Net sales came in at $2.32 billion, compared with Wall Street estimates of $2.21 billion, according to IBES data from Refinitiv.
The company reported a net loss of $49.6 million, or 18 cents per share, in the second quarter ended Aug. 1, compared with a profit of $37.6 million, or 14 cents per share, a year earlier.
By Nivedita Balu; editor: Shinjini Ganguli
BoF Careers provides essential sector insights for fashion professionals in retail this month, to help you decode fashion’s retail landscape.
Aviator Nation’s pricey sweatpants and cashmeres had a cult following before they were swept up in the “dopamine dressing” phenomenon. Now, founder Paige Mycoskie – still the brand’s only shareholder – is ready to see just how big her vision for California surfer cool can get.
Small stores can remain competitive by scaling their private labels, testing new store concepts, and offering brands consumers can’t find on Farfetch or in Selfridges.
Investing in a VIP resale platform is another play from the e-commerce pioneer to win over luxury buyers and sellers.