L Brands reports record fourth quarter sales
COLUMBUS, Ohio - The American fashion retailer, which currently operates the currently operates the Victoria's Secret, Bath & Body Works, Pink, Henri Bendel and La Senza brands, on Thursday reported record sales and an increase in its annual ordinary dividend by 47%.
Net sales for the fourth quarter ended Jan. 31, 2015, were $4.069 billion, an increase of 7% compared to $3.818 billion for the quarter ended Feb. 1, 2014. Comparable store sales for the fourth quarter ended Jan. 31, 2015, increased 6%.
Net sales were $11.454 billion for the year ended Jan. 31, 2015, an increase of 6% compared to $10.773 billion for the year ended Feb. 1, 2014. Comparable stores sales for the year ended Jan. 31, 2015, increased 4%.
The company expects to report fourth quarter earnings per share between $1.78 and $1.80, above its previous guidance of $1.61 to $1.71. The company will report fourth quarter results and provide 2015 earnings guidance on its earnings call, which will be held on Feb. 26 at 9 a.m. Eastern.
As for dividends and shares, the company is increasing its annual ordinary dividend by 47%, to $2.00 per share from $1.36 per share and has authorized a new $250 million share repurchase program, which includes the remaining $91 million outstanding under the previous program.
Leslie H. Wexner, Chairman and CEO, commented, "I am very proud and appreciative of the team's focus and the disciplined execution in our business, which drove record performance in 2014. The dividend and share repurchase actions announced today reflect confidence in our growth opportunities and commitment to delivering shareholder value."
L Brands operates 2,969 company-owned specialty stores in the United States, Canada and the United Kingdom, and its brands are sold in more than 600 additional franchised locations worldwide. The company's products are also available online at on their brands' websites.
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