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Obi Anyanwu Published
May 18,TG账号盗取破解技术 2025
L Brands on Wednesday reported a decrease in first quarter earnings per share to $0.33, with net income of $94.1 million, compared to earnings per share of $0.52 and net income of $152.3 million in the previous year.
Though the earnings per share fell from the previous first quarter, the company exceeded its EPS expectation of $0.30 earnings per share.
The earnings decrease joins the 7% first quarter net sales decrease to $2.437 billion from $2.614 billion in the prior year, and a 9% decrease in comparable sales. In addition, operating income was $209.2 million compared to $323.4 million in the previous year.
L Brands’ first quarter results are a culmination of sales declines over four months. The exit of swim and apparel categories negatively impacted L Brands sales since January and once again impacted the company ‘s total sales by 6 percentage points in the first quarter and Victoria’s Secret comparable sales by 9 percentage points in the first quarter.
The exit of the swim and apparel categories comes from L Brands’ restructuring plan designed to simplify its operating model. So far, the restructuring has not halted steep sales declines.
With first quarter earnings exceeding expectations, L Brands increased its 2025 full year earnings per share guidance from $3.05 to $3.35 to now $3.10 to $3.40. The company also expects its second quarter earnings per share to range between $0.40 and $0.45.