L Brands, Inc. appoints Patricia S. Bellinger and Robert H. Schottenstein to its Board of Directors

COLUMBUS, Ohio, 2017-Aug-23 — /EPR Retail News/ — Today (Aug. 22, 2017) L Brands, Inc. (NYSE:LB) announced the appointment of Patricia S. Bellinger and Robert H. Schottenstein to its Board of Directors.

Bellinger is an Adjunct Lecturer and Research Fellow at the Harvard Kennedy School .  She is an internationally recognized expert on diversity, inclusion and leadership development and serves on the boards of Pattern Energy Group, Inc. (NASDAQ:PEGI), Sodexo SA (EPA:SW) and Sonepar Group .

Schottenstein is Chairman and CEO of M/I Homes, Inc. (NYSE:MHO), one of the largest homebuilders in the United States , and serves on the board of Installed Building Products, Inc.(NYSE:IBP).

“Both Patti Bellinger and Bob Schottenstein are business leaders who have built their careers through elevating others and delivering performance – principles that drive our business,” said Leslie H. Wexner , chairman and chief executive officer of L Brands .  “I’m excited that they are joining the L Brands board to help us continue to grow as we always strive to get better.”

The company also announced the retirement of Jeffrey H. Miro from the board of directors.  Miro, who served on the L Brands board since 2006, is a Partner at Honigman Miller Schwartz and Cohn.

“Jeffrey’s decade of service on the L Brands board brought a level of sophistication to our thinking – particularly around corporate governance and real estate,” said Wexner.  “I’ve always believed that his wise counsel was important to our enterprise.  We greatly appreciate his service.”

ABOUT L BRANDS :

L Brands , through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company.  The company operates 3,077 company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are sold in more than 750 additional franchised locations worldwide.  The company’s products are also available online at www.VictoriasSecret.comwww.BathandBodyWorks.comwww.HenriBendel.com and www.LaSenza.com.

For further information, please contact:
L Brands: Communications
Tammy Roberts Myers
(614) 415-7072
communications@lb.com

Investor Relations:
Amie Preston
(614) 415-6704
apreston@lb.com

Source: L Brands Inc./globenewswire

L Brands March sales: 5% increase YoY

ANNOUNCES STRATEGIC ACTIONS AT VICTORIA’S SECRET  

COLUMBUS, Ohio, 2016-Apr-09 — /EPR Retail News/ — L Brands, Inc. (NYSE:LB) reported net sales increased 5% to $1.027 billion for the five weeks ended April 2, 2016, compared to net sales of $981.2 million for the five weeks ended April 4 , 2015.  Comparable sales for the five weeks ended April 2, 2016 , increased 3% and were negatively impacted by the earlier Easter this year by approximately 1 to 2 points.

The company reported net sales of $1.876 billion for the nine weeks ended April 2, 2016 , an increase of 5% compared to sales of $1.787 billion for the nine weeks ended April 4 , 2015.  Comparable sales for the nine weeks ended April 2, 2016 , increased 4%.

The company also announced changes at Victoria’s Secret designed to further focus the brand on its core merchandise categories and streamline operations.  These actions include:

  • Restructuring the organization into three business units:  Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty.  The leaders of these business units will continue to report directly to Leslie H. Wexner , chairman and CEO.
  • Integrating the direct business as a primarily digital channel within the Victoria’s Secret and PINK businesses to align with how customers engage with the brands.
  • Focusing resources on core merchandise categories, where the company believes the greatest growth potential exists. This will involve the elimination of certain merchandise categories.
  • Evolving how the business connects with customers through more focus on loyalty programs and brand-building engagement rather than traditional catalogues and offers.
  • Streamlining the organization through the elimination of approximately 200 Columbus and New York home office associates.

“Coming off a record year, now is the best time to make improvements … going from best to even better,” said Wexner.  “We are making these changes to accelerate our growth and to strengthen the business for the long term by narrowing our focus and simplifying our operating model. I am certain that these changes are necessary for our industry-leading brands to reach their significant potential … nonetheless, decisions about people are the most difficult ones to make, and we are taking care to support associates who are being affected by these changes.”

Further detail and information about the ongoing impact of these actions will be provided on the company’s first quarter earnings call on May 19 .

To hear further commentary provided on L Brands’ prerecorded March sales message, call 1-866-639-7583, or log onto www.LB.com for an audio replay.

ABOUT L BRANDS :
L Brands , through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company.  The company operates 3,005 company-owned specialty stores in the United States , Canada and the United Kingdom , and its brands are sold in more than 700 additional franchised locations worldwide.  The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.comwww.HenriBendel.com and www.LaSenza.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or the March sales call or made by our company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release or the March sales call or otherwise made by our company or our management:

  • general economic conditions, consumer confidence, consumer spending patterns and market disruptions including severe weather conditions, natural disasters, health hazards, terrorist activities, financial crises, political crises or other major events, or the prospect of these events;
  • the seasonality of our business;
  • the dependence on mall traffic and the availability of suitable store locations on appropriate terms;
  • our ability to grow through new store openings and existing store remodels and expansions;
  • our ability to successfully expand internationally and related risks;
  • our relationships with independent franchise, license and wholesale partners;
  • our direct channel businesses;
  • our ability to protect our reputation and our brand images;
  • our ability to attract customers with marketing, advertising and promotional programs;
  • our ability to protect our trade names, trademarks and patents;
  • the highly competitive nature of the retail industry and the segments in which we operate;
  • consumer acceptance of our products and our ability to keep up with fashion trends, develop new merchandise and launch new product lines successfully;
  • our ability to source, distribute and sell goods and materials on a global basis, including risks related to:
    • political instability, significant health hazards, environmental hazards or natural disasters;
    • duties, taxes and other charges;
    • legal and regulatory matters;
    • volatility in currency exchange rates;
    • local business practices and political issues;
    • potential delays or disruptions in shipping and transportation and related pricing impacts;
    • disruption due to labor disputes; and
    • changing expectations regarding product safety due to new legislation;
  • our geographic concentration of supplier and distribution facilities in central Ohio ;
  • fluctuations in foreign currency exchange rates;
  • stock price volatility;
  • our ability to pay dividends and related effects;
  • our ability to maintain our credit rating;
  • our ability to service or refinance our debt;
  • our ability to retain key personnel;
  • our ability to attract, develop and retain qualified employees and manage labor-related costs;
  • the ability of our manufacturers to deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations;
  • fluctuations in product input costs;
  • fluctuations in energy costs;
  • increases in the costs of mailing, paper and printing;
  • claims arising from our self-insurance;
  • our ability to implement and maintain information technology systems and to protect associated data;
  • our ability to maintain the security of customer, associate, supplier or company information;
  • our ability to comply with regulatory requirements;
  • legal and compliance matters; and
  • tax matters.

We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release or the March sales call to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in Item 1A. Risk Factors in our 2015 Annual Report on Form 10-K.

L Brands:
Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com

Media Relations
Tammy Roberts Myers
(614) 415-7072
communications@lb.com

SOURCE: L Brands Inc

L Brands: Victoria’s Secret CEO Sharen Jester Turney resigns; Leslie H. Wexner to succeed

COLUMBUS, Ohio, 2016-Feb-16 — /EPR Retail News/ — L Brands, Inc. (NYSE:LB) today announced that Victoria’s Secret CEOSharen Jester Turney has made the decision to resign.  Turney has been with the company for nearly 16 years, joining as President and CEO of Victoria’s Secret Direct in 2000 and assuming responsibility for the brand as CEO in 2006.  Leslie H. Wexner, Chairman and CEO of L Brands, will assume leadership of Victoria’s Secret.  Turney will continue to serve as an advisor to the business.

“We are very grateful to Sharen for her leadership and all that she has accomplished; Victoria’s Secret sales have increased more than 70 percent to $7.7 billion and profit has increased substantially during her nine years as CEO. While she will be missed, we support her in her choice and wish her well,” said Wexner.  “We have strong confidence in the strength of the brand and our growth opportunities, and I look forward to taking on a more active role and working with the talented leadership team at Victoria’s Secret.”

Turney stated, “After 16 years and a record fourth quarter at Victoria’s Secret, I have decided to prioritize my family and my personal life and consider what’s next for me professionally. My years with Victoria’s Secret have been the most exciting and rewarding years of my career. I leave the Victoria’s Secret business well-positioned for the next chapter of growth … a strong brand with great momentum.  I take great satisfaction and pride in what our team has accomplished, including tremendous growth and the development of a world-class team.”

ABOUT L BRANDS:
L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company.  The company operates 3,005 company-owned specialty stores in the United States, Canada and the United Kingdom, and its brands are sold in more than 700 additional noncompany-owned locations worldwide.  The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.

ABOUT VICTORIA’S SECRET:
Victoria’s Secret is the leading specialty retailer of lingerie and beauty products with modern fashion-inspired collections and prestige fragrances, celebrated Supermodels and world-famous runway shows. A business of L Brands (NYSE:LB), its more than 1,000 Victoria’s Secret Lingerie and Beauty stores, www.VictoriasSecret.com and the catalogue allow customers to shop the brand anywhere and any time.

For further information, please contact:

L Brands
Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com

Media Relations
Tammy Roberts Myers
(614) 415-7072
communications@lb.com

L Brands Inc

L Brands, Inc. reported net sales of $2.415 billion for the five weeks ended Jan. 2, 2016

COLUMBUS, Ohio, 2016-1-11 — /EPR Retail News/ — L Brands, Inc. (NYSE:LB) reported net sales of $2.415 billion for the five weeks ended Jan. 2, 2016, an increase of 9 percent, compared to net sales of $2.207 billion for the five weeks ended Jan. 3, 2015.  Comparable store sales increased 8 percent for the five weeks ended Jan. 2, 2016.

Leslie H. Wexner, chairman and CEO, commented, “We delivered our best December ever.  Victoria’s Secret, PINK and Bath & Body Works are great brands with high emotional content, and our teams worked hard to deliver exceptional merchandise and experiences to our customers.  We remain focused on execution and transitioning to spring with continued momentum.”

The company reported net sales of $11.343 billion for the 48 weeks ended Jan. 2, 2016, an increase of 6 percent compared to net sales of $10.671 billion for the 48 weeks ended Jan. 3, 2015.  Comparable store sales increased 6 percent for the 48 weeks ended Jan. 2, 2016.

To hear further commentary provided on L Brands’ prerecorded December sales message, call 1-866-639-7583 or log onto www.LB.com for an audio replay.

ABOUT L BRANDS:
L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company.  The company operates 3,010 company-owned specialty stores in the United States, Canada and the United Kingdom, and its brands are sold in more than 700 additional noncompany-owned locations worldwide.  The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.comwww.HenriBendel.com and www.LaSenza.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

L Brands, Inc. cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or the December sales call involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release or the December sales call:

  • general economic conditions, consumer confidence, consumer spending patterns and market disruptions including severe weather conditions, natural disasters, health hazards, terrorist activities, financial crises, political crises or other major events, or the prospect of these events;
  • the seasonality of our business;
  • the dependence on a high volume of mall traffic and the availability of suitable store locations on appropriate terms;
  • our ability to grow through new store openings and existing store remodels and expansions;
  • our ability to successfully expand into global markets and related risks;
  • our relationships with independent franchise, license and wholesale partners;
  • our direct channel businesses;
  • our failure to protect our reputation and our brand images;
  • our failure to protect our trade names, trademarks and patents;
  • the highly competitive nature of the retail industry generally and the segments in which we operate particularly;
  • consumer acceptance of our products and our ability to keep up with fashion trends, develop new merchandise and launch new product lines successfully;
  • our ability to source, distribute and sell goods and materials on a global basis, including risks related to:
    • political instability;
    • duties, taxes and other charges;
    • legal and regulatory matters;
    • volatility in currency exchange rates;
    • local business practices and political issues;
    • potential delays or disruptions in shipping and transportation and related pricing impacts;
    • disruption due to labor disputes; and
    • changing expectations regarding product safety due to new legislation;
  • fluctuations in foreign currency exchange rates;
  • stock price volatility;
  • our failure to maintain our credit rating;
  • our ability to service or refinance our debt;
  • our ability to retain key personnel;
  • our ability to attract, develop and retain qualified employees and manage labor-related costs;
  • the inability of our manufacturers to deliver products in a timely manner and meet quality standards;
  • fluctuations in product input costs;
  • fluctuations in energy costs;
  • increases in the costs of mailing, paper and printing;
  • claims arising from our self-insurance;
  • our ability to implement and maintain information technology systems and to protect associated data;
  • our failure to maintain the security of customer, associate, supplier or company information;
  • our failure to comply with regulatory requirements;
  • tax matters; and
  • legal and compliance matters.

We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release or the December sales call to reflect circumstances existing after the date of this press release or the December sales call or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in Item 1A. Risk Factors in our 2014 Annual Report on Form 10-K.

For further information, please contact:
L Brands:
Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com

Media Relations
Tammy Roberts Myers
(614) 415-7072
communications@lb.com

SOURCE: L Brands Inc