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L Brands posts Q4 and FY18 comparable sales growth of 3 percent

By Prachi Singh

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Business

L Brands, Inc. earnings in the fourth quarter reached 1.94 dollars compared to 2.33 dollars in the same quarter last year. Operating income for the quarter was 799.4 million dollars compared to 986.6 million dollars, while net income was 540.1 million dollars compared to 664.1 million dollars in the same quarter of 2017. Net sales were 4.852 billion dollars compared to 4.823 billion dollars for the fourth quarter of 2017 and comparable sales increased 3 percent.

For the full year, earnings per share were 2.31 dollars compared to 3.42 dollars for the 53-week year ended February 3, 2018, while operating income was 1.237 billion dollars compared to 1.728 billion dollars in 2017 and net income was 643.9 million dollars compared to 983 million dollars. Full year net sales were 13.237 billion dollars compared to 12.632 billion dollars, while comparable sales increased 3 percent.

Review of L Brand’s Q4 and full year results

The company said, adjusted operating income was 898.7 million dollars compared to 986.6 million dollars and adjusted net income was 595.2 million dollars compared to 600.6 million dollars last year, while adjusted earnings per share were 2.14 dollars compared to 2.11 dollars.

Excluding significant items, L Brands said, adjusted 52-week full-year earnings per share were 2.82 dollars compared to 3.20 dollars for the 53-week period last year; while adjusted operating income was 1.437 billion dollars compared to 1.728 billion dollars and adjusted net income was 786.7 million dollars compared to 919.5 million dollars in 2017.

The company currently expects 2019 full-year earnings per share to be between 2.20 dollars and 2.60 dollars, including an approximately breakeven earnings per share result in the first quarter.

Picture:L Brands media gallery

L BRANDS