Limited Brands Q1
This article was originally published in The Rose Sheet
Executive Summary
Operating income for the firm decreased by $77.4 mil. to $108.5 mil. with Bath & Body Works revenue down $17.5 mil. to $7 mil., although total sales for the quarter increased $35 mil. versus the prior year to $2.31 bil., firm reports May 24. B&BW incurred "substantial costs" in Q1 related to supply chain systems implementation, as well as real estate and marketing investments. The chain also experienced "soft sales performance" for its Valentine's Day and Mother's Day promotions, company adds. Operating income for Victoria's Secret was down 33% to $146 mil. Going forward, Limited Brands will focus on its intimate apparel and personal-care businesses; it says it will invest in "new concepts" in personal care. The company is now the largest personal care and beauty specialty retailer in North America, and the fifth largest beauty company in the U.S...
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