L Brands posts flat net sales in DecemberStaff Writer |
L Brands The company's net sales were $2.48 billion
L Brands reported a decrease in net sales for the month of December 2018, while comparable sales were flat.
Comparable sales, or same-store sales, were flat for the five-week period, compared to the five weeks ended January 6, 2018.
For the 48 weeks ended January 5, 2019, the company reported net sales of $12.46 billion, compared to net sales of $11.59 billion for the 48 weeks ended December 30, 2017.
Comparable sales for the 48-week period ended January 5, 2019 increased 3 percent, compared to the 48 weeks ended January 6, 2018.
Looking ahead to the fourth quarter, L Brands expects to report adjusted earnings per share towards the higher end of its previous guidance of $1.90 to $2.10, not including a preliminary estimated pretax charge, principally non-cash, related to the sale of La Senza of approximately $80 million, or $0.15 per share.
The company closed on the previously announced sale of the La Senza business to an affiliate of Regent LP on January 6, 2019. ■
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