Limited Brands: earnings up 15%
today Mar 1, 2015
Revenue for the Limited Brands group was already announced as up for 2014, but now so are the results. The American group which notably holds Victoria's Secret, Pink, and Bath & Body Works thus closed its latest financial year on 31 January with a 15% increase in net income, or 1.042 billion dollars.
For a total sales figure of 11.454 billion dollars, or a 4% increase on a comparable scale, the operating result stands at 1.953 billion dollars, or a 12% increase.
Profitability that the group again expects in 2015, announcing similar numbers or even an increase of several dividend points for the new financial year.
Regarding its network of stores, the 2014 financial year closed at the end of January with a total of 660 points of sale for the group's chain stores. There were 79 closures over the year, which included 71 La Senza stores, the Canadian label that was restructured with a 20% reduction in its number of stores. On the group level there were also 146 openings, two thirds of which concerned Victoria's Secret Beauty & Accessories.
This concept mainly focused on cosmetics will be the focus of a new acceleration in 2015 with at least 120 openings to surpass the 400 points of sale mark.
As for the other beauty concept, Bath & Body Works, it will see the opening of some fifty stores, while Victoria's Secret will see some thirty openings in the United States and Europe.
Thus the 2015 financial year promises to be an intense one for Limited Brands, with an end target of 750 stores, all concepts included.
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