EX-99.2 3 a992october2015salesrelease.htm PRESS RELEASE 11.5 Exhibit


Exhibit 99.2

L BRANDS REPORTS OCTOBER 2015 SALES AND REITERATES PREVIOUSLY RAISED THIRD QUARTER EARNINGS GUIDANCE

Columbus, Ohio (Nov. 5, 2015) - L Brands, Inc. (NYSE: LB) reported net sales of $735.6 million for the four weeks ended Oct. 31, 2015, an increase of 5 percent, compared to net sales of $700.0 million for the four weeks ended Nov. 1, 2014. Comparable store sales increased 5 percent for the four weeks ended Oct. 31, 2015.

The company reported net sales of $2.482 billion for the 13 weeks ended Oct. 31, 2015, an increase of 7 percent compared to net sales of $2.319 billion for the 13 weeks ended Nov. 1, 2014. Comparable store sales increased 7 percent for the 13 weeks ended Oct. 31, 2015.

The company reported net sales of $7.759 billion for the 39 weeks ended Oct. 31, 2015, an increase of 5 percent compared to net sales of $7.385 billion for the 39 weeks ended Nov. 1, 2014. Comparable store sales increased 5 percent for the 39 weeks ended Oct. 31, 2015.

As previously announced, the company now expects third quarter earnings per share between $0.51 and $0.53, versus its previous guidance of $0.40 to $0.45 and last year’s result of $0.44. The company will provide fourth quarter earnings guidance when it reports third quarter earnings after the close of the market on Nov. 18. The company will conduct its third quarter earnings call at 9 a.m. Eastern on Nov. 19.

To hear further commentary provided on L Brands’ prerecorded October sales message, call 1-866-639-7583, or log onto www.LB.com for an audio replay.

ABOUT L BRANDS:
L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 3,003 company-owned specialty stores in the United States, Canada and the United Kingdom, and its brands are sold in more than 700 additional noncompany-owned locations worldwide. The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
L Brands, Inc. cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or the October sales call involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release or the October sales call:
•
general economic conditions, consumer confidence, consumer spending patterns and market disruptions including severe weather conditions, natural disasters, health hazards, terrorist activities, financial crises, political crises or other major events, or the prospect of these events;

VICTORIA'S SECRET / BATH & BODY WORKS / PINK / LA SENZA / HENRI BENDEL
Three Limited Parkway Columbus, OH 43230 www.LB.com



•
the seasonality of our business;
•
the dependence on a high volume of mall traffic and the availability of suitable store locations on appropriate terms;
•
our ability to grow through new store openings and existing store remodels and expansions;
•
our ability to successfully expand into global markets and related risks;
•
our relationships with independent franchise, license and wholesale partners;
•
our direct channel businesses;
•
our failure to protect our reputation and our brand images;
•
our failure to protect our trade names, trademarks and patents;
•
the highly competitive nature of the retail industry generally and the segments in which we operate particularly;
•
consumer acceptance of our products and our ability to keep up with fashion trends, develop new merchandise and launch new product lines successfully;
•
our ability to source, distribute and sell goods and materials on a global basis, including risks related to:
•
political instability;
•
duties, taxes and other charges;
•
legal and regulatory matters;
•
volatility in currency exchange rates;
•
local business practices and political issues;
•
potential delays or disruptions in shipping and transportation and related pricing impacts;
•
disruption due to labor disputes; and
•
changing expectations regarding product safety due to new legislation;
•
fluctuations in foreign currency exchange rates;
•
stock price volatility;
•
our failure to maintain our credit rating;
•
our ability to service or refinance our debt;
•
our ability to retain key personnel;
•
our ability to attract, develop and retain qualified employees and manage labor-related costs;
•
the inability of our manufacturers to deliver products in a timely manner and meet quality standards;
•
fluctuations in product input costs;
•
fluctuations in energy costs;
•
increases in the costs of mailing, paper and printing;
•
claims arising from our self-insurance;
•
our ability to implement and maintain information technology systems and to protect associated data;
•
our failure to maintain the security of customer, associate, supplier or company information;
•
our failure to comply with regulatory requirements;
•
tax matters; and
•
legal and compliance matters.
We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release or the October sales call to reflect circumstances existing after the date of this press release or the October sales call or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in “Item 1A. Risk Factors’ in our 2014 Annual Report on Form 10-K.

VICTORIA'S SECRET / BATH & BODY WORKS / PINK / LA SENZA / HENRI BENDEL
Three Limited Parkway Columbus, OH 43230 www.LB.com




For further information, please contact:    
        
Investor Relations
 
 
 
Media Relations
Amie Preston
 
 
 
Tammy Roberts Myers
(614) 415-6704
 
 
 
(614) 415-7072
apreston@lb.com
 
 
 
communications@lb.com

VICTORIA'S SECRET / BATH & BODY WORKS / PINK / LA SENZA / HENRI BENDEL
Three Limited Parkway Columbus, OH 43230 www.LB.com



L BRANDS
October 2015

Comparable Store Sales Increase (Decrease):

 

October 2015

October 2014
 
Third Quarter
2015
Third Quarter
2014
 
Year-to-Date 2015
Year-to-Date 2014
 
 
 
 
 
 
 
 
 
Victoria's Secret1
5
%
0
%
 
7
%
3
%
 
5
%
3
%
Bath & Body Works1
5
%
5
%
 
6
%
7
%
 
5
%
4
%
L Brands
5
%
3
%
 
7
%
5
%
 
5
%
3
%
Victoria's Secret Direct Sales
7
%
(7
%)
 
4
%
2
%
 
(2
%)
0
%

1 - Results include company-owned stores in the United States and Canada.


Total Sales (Millions):

 
Third Quarter
2015
 
Third Quarter
2014
 
Year-to-Date 2015
 
Year-to-Date 2014
 
 
 
 
 
 
 
 
Victoria's Secret Stores1
$
1,282.1

 
$
1,177.6

 
$
4,065.3

 
$
3,785.9

Victoria's Secret Direct
285.4

 
274.7

 
992.5

 
1,015.4

  Total Victoria's Secret
$
1,567.5

 
$
1,452.3

 
$
5,057.8

 
$
4,801.3

 
 
 
 
 
 
 
 
Bath & Body Works1
$
637.2

 
$
602.7

 
$
1,863.2

 
$
1,771.1

Bath & Body Works Direct
68.3

 
56.7

 
203.8

 
174.5

  Total Bath & Body Works
$
705.5

 
$
659.4

 
$
2,067.0

 
$
1,945.6

 
 
 
 
 
 
 
 
VS & BBW International2
$
92.8

 
$
80.0

 
$
273.0

 
$
230.4

Other3
$
115.8

 
$
127.2

 
$
361.0

 
$
408.1

L Brands
$
2,481.6

 
$
2,318.9

 
$
7,758.8

 
$
7,385.4


1 - Results include company-owned stores in the United States and Canada.
2 - Results include retail sales from company-owned stores outside of the United States and Canada and royalty and wholesale
sales associated with partner-operated stores.
3 - Results include La Senza, Henri Bendel and Mast external sales.




VICTORIA'S SECRET / BATH & BODY WORKS / PINK / LA SENZA / HENRI BENDEL
Three Limited Parkway Columbus, OH 43230 www.LB.com



Total Company-Owned Stores:

 
Stores
 
Stores
 
Operating
Operating
 
at 1/31/15
Opened
Closed
at 10/31/15
 
 
 
 
 
Victoria's Secret U.S.
983

9

(3
)
989

PINK U.S.
115

15

(3
)
127

Victoria's Secret Canada
31

4

—

35

PINK Canada
10

—

—

10

   Total Victoria's Secret
1,139

28

(6
)
1,161

 
 
 
 
 
Bath & Body Works U.S.
1,558

19

(4
)
1,573

Bath & Body Works Canada
88

10

—

98

   Total Bath & Body Works
1,646

29

(4
)
1,671

 
 
 
 
 
Victoria's Secret U.K.
8

—

—

8

PINK U.K.
2

—

—

2

Henri Bendel
29

—

—

29

La Senza Canada
145

1

(14
)
132

Total L Brands Stores
2,969

58

(24
)
3,003



Total Noncompany-Owned Stores:

 
Stores
 
Stores
 
Operating
Operating
 
at 1/31/15
Opened
Closed
at 10/31/15
 
 
 
 
 
Victoria's Secret Beauty & Accessories
290

57

(5
)
342

Victoria's Secret
13

2

—

15

PINK
1

2

—

3

Bath & Body Works
80

32

(2
)
110

La Senza
266

3

(37
)
232

Total
650

96

(44
)
702



VICTORIA'S SECRET / BATH & BODY WORKS / PINK / LA SENZA / HENRI BENDEL
Three Limited Parkway Columbus, OH 43230 www.LB.com