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L Brands Reports Higher-Than-Expected In-Store Sales and Earnings

Investors are betting that the Victoria’s Secret owner has turned a corner.
Bath & Body Works. Shutterstock.

Shares of the Victoria’s Secret and Bath & Body Works parent company rose in after-hours trading following its fourth quarter earnings report, in which the retailer beat analyst projections.

L Brands’ overall fourth-quarter revenue totaled $4.82 billion, an increase from $4.71 billion in the year prior. Same-store sales for the quarter increased 10 percent overall, reflecting a 22 percent increase for Bath & Body Works and a 3 percent decline for Victoria’s Secret. The mall retail company also beat predictions on earnings per share.

According to a recent New York Times report, L Brands is continuing its search for a new owner for Victoria’s Secret after a deal with private equity firm Sycamore Partners fell apart last year.

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State of Fashion 2023
© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
State of Fashion 2023