Limited Brands Integrates Victoria’s Secret Lingerie, Beauty Operations
This article was originally published in The Rose Sheet
Executive Summary
Limited Brands will integrate Victoria's Secret beauty and lingerie store operations immediately in order to create a single brand store environment and enhance teamwork among the divisions, Vice Chairman and Chief Operating Officer Len Schlesinger said during a Feb. 24 analyst call. The exec noted both businesses represent "enormous growth opportunities.
You may also be interested in...
Limited Brands
Firm's integration of Victoria's Secret beauty and lingerie businesses is "proceeding extraordinarily well," with cost benefits expected in future quarters, Vice Chairman and Chief Operating Officer Len Schlesinger says during the Sanford C. Bernstein Strategic Decisions Conference June 2. Limited Brands outlined plans to integrate the division's operations earlier this year (1"The Rose Sheet" Feb. 28, 2005, p. 7). Firm also plans to expand international distribution of Victoria's Secret Beauty in airports based on results in three UK locations, and is in discussions to expand the brand into Germany and Brazil in the next few months, Schlesinger says. Company has finalized plans to roll out six CO Bigelow stores in October in the Chicago, Boston and New York markets, exec adds...
Limited Brands
Firm's integration of Victoria's Secret beauty and lingerie businesses is "proceeding extraordinarily well," with cost benefits expected in future quarters, Vice Chairman and Chief Operating Officer Len Schlesinger says during the Sanford C. Bernstein Strategic Decisions Conference June 2. Limited Brands outlined plans to integrate the division's operations earlier this year (1"The Rose Sheet" Feb. 28, 2005, p. 7). Firm also plans to expand international distribution of Victoria's Secret Beauty in airports based on results in three UK locations, and is in discussions to expand the brand into Germany and Brazil in the next few months, Schlesinger says. Company has finalized plans to roll out six CO Bigelow stores in October in the Chicago, Boston and New York markets, exec adds...
Limited Brands
After adjusting for lease accounting methods, fourth quarter results are less than previously reported, firm announces in final Q4 and year-end results April 11. As a result of a review, the company has taken a one-time pretax charge of $61 mil. to correct its accounting for "straight-line rent and the depreciation and amortization of leasehold improvements and certain landlord allowances," company notes. As a result, fourth quarter net earnings fell 1.3% to $382.5 mil. and net earnings for the year declined 1.6% to $705.4 mil. In February, the firm reported preliminary results with net earnings in Q4 up 7% to $415.8 mil. and 2004 net income growing 3.1% to $738.7 mil. (1"The Rose Sheet" Feb. 28, 2005, p. 7). Sales and other related items are not impacted by the adjustment, company notes...