|L Brands Reports March 2016 Sales|
— ANNOUNCES STRATEGIC ACTIONS AT VICTORIA’S SECRET —
The company reported net sales of
The company also announced changes at Victoria’s Secret designed to further focus the brand on its core merchandise categories and streamline operations. These actions include:
“Coming off a record year, now is the best time to make improvements … going from best to even better,” said Wexner. “We are making these changes to accelerate our growth and to strengthen the business for the long term by narrowing our focus and simplifying our operating model. I am certain that these changes are necessary for our industry-leading brands to reach their significant potential … nonetheless, decisions about people are the most difficult ones to make, and we are taking care to support associates who are being affected by these changes.”
Further detail and information about the ongoing impact of these actions will be provided on the company’s first quarter earnings call on
To hear further commentary provided on L Brands’ prerecorded March sales message, call 1-866-639-7583, or log onto www.LB.com for an audio replay.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
We caution 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 March sales call or made by our company or our management 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 March sales call or otherwise made by our company or our management:
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 March sales call to reflect circumstances existing after the date of this press release 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 2015 Annual Report on Form 10-K.
Comparable Sales Increase (Decrease):
Total Company-Owned Stores: