Segment Information

The Company has three reportable segments: Victoria’s Secret, Bath & Body Works and Victoria's Secret and Bath & Body Works International.

The Victoria’s Secret segment sells women’s intimate and other apparel, personal care and beauty products under the Victoria’s Secret and PINK brand names. Victoria’s Secret merchandise is sold online and through retail stores located in the U.S. and Canada.

The Bath & Body Works segment sells body care, home fragrance products, soaps and sanitizers under the Bath & Body Works, White Barn, C.O. Bigelow and other brand names. Bath & Body Works merchandise is sold online and at retail stores located in the U.S. and Canada.

The Victoria's Secret and Bath & Body Works International segment includes the Victoria's Secret and Bath & Body Works company-owned and partner-operated stores located outside of the U.S. and Canada, as well as the online business in Greater China. This segment includes the following:


•	Victoria's Secret International, comprised of company-owned stores in the U.K., Ireland and Greater China, as well as stores operated by partners under franchise and license arrangements;


•	Victoria's Secret Beauty and Accessories, comprised of company-owned stores in Greater China, as well as stores operated by partners under franchise, license and wholesale arrangements, which feature Victoria's Secret branded beauty and accessories products in travel retail and other locations; and


•	Bath & Body Works International stores operated by partners under franchise, license and wholesale arrangements.

Other consists of the following:


•	Mast Global, a merchandise sourcing and production function serving the Company and its international partners;


•	La Senza, which sells women's intimate apparel online and through company-owned stores located in Canada and the U.S., as well as stores operated by partners under franchise and license arrangements;


•	Henri Bendel, which sells handbags, jewelry and other accessory products online and through company-owned stores; and


•	Corporate functions including non-core real estate, equity investments and other governance functions such as treasury and tax.

The following table provides the Company’s segment information for the third quarter and year-to-date 2018 and 2017:



	Victoria’s Secret			Bath & Body Works		Victoria’s Secret and Bath & Body Works International			Other			Total
	(in millions)
2018
Third Quarter:
Net Sales	$	1,529		$	956	$	134		$	156		$	2,775
Operating Income (Loss) (a)	(36		)	178		(42		)	(46		)	54
Year-to-Date:
Net Sales	$	4,843		$	2,680	$	415		$	447		$	8,385
Operating Income (Loss) (a)	162			470		(56		)	(139		)	437
2017
Third Quarter:
Net Sales	$	1,539		$	816	$	115		$	148		$	2,618
Operating Income (Loss)	134			138		—			(40		)	232
Year-to-Date:
Net Sales	$	4,718		$	2,354	$	332		$	405		$	7,809
Operating Income (Loss)	476			396		1			(131		)	742

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(a)	Victoria's Secret and Victoria's Secret and Bath & Body Works International includes long-lived store asset impairment charges of $50 million and $31 million, respectively, and Other includes Henri Bendel closures costs of $20 million. For additional information see Note 7, “Property and Equipment, Net" and Note 5, “Restructuring Activities."

The Company's international net sales include sales from company-owned stores, royalty revenue from franchise and license arrangements, wholesale revenues and direct sales shipped internationally. Certain of these sales are subject to the impact of fluctuations in foreign currency. The Company’s international net sales across all segments totaled $387 million and $365 million for the third quarter of 2018 and 2017, respectively. The Company's international net sales across all segments totaled $1.146 billion and $1.014 billion for year-to-date 2018 and 2017, respectively.