L Brands has released financial results from the past nine weeks during the 2020 holiday season. The company, which houses Bath & Body Works and Victoria’s Secret brands, reported net sales of $3.8 billion. This is a five percent increase year-over-year.
Bath & Body Works’ comparable sales jumped 17% during the holiday season, which also includes a 5% increase in store sales.
“We are very pleased with our Holiday results, which significantly exceeded our initial expectations, driven by an increase in profitability at both Bath & Body Works and Victoria’s Secret. In this challenging environment, we maintained our focus on customer and associate safety and delivered exceptional execution. Bath & Body Works continues to deliver record results, demonstrating the strength of the brand. The turnaround at Victoria’s Secret also continues to gain momentum, driven by an improved merchandise assortment and focused execution of retail fundamentals and our profit improvement plan,” said Andrew Meslow, Chief Executive Officer at L Brands.
L Brands expects to release their fourth quarter comps on Feb. 24.
About L Brands
L Brands, through Victoria’s Secret, PINK and Bath & Body Works, is an international company. The company operates 2,682 company-operated specialty stores in the United States, Canada and Greater China, and its brands are also sold in more than 700 franchised locations worldwide. The company’s products are also available online at www.BathandBodyWorks.com, www.VictoriasSecret.com and www.victoriassecret.com/us/pink.