L Brands posts Q1 FY20 sales of $1.6 billion

L Brands, a US based fashion retailer, posted sales of $1.6 billion in first quarter (Q1) FY20 ended on May 2, 2020 compared to sales of $2.6 billion in same period prior year. Gross profit were $288.6 million (Q1 FY19: $934.0 million). Company reported a net loss of $296.8 million during the quarter compared to net income of $40.2 million in Q1 FY19.

 

L Brands, a US based fashion retailer, posted sales of $1.6 billion in first quarter (Q1) FY20 ended on May 2, 2020 compared to sales of $2.6 billion in same period prior year. Gross profit were $288.6 million (Q1 FY19: $934.0 million). Company reported a net loss of $296.8 million during the quarter compared to net income of $40.2 million in Q1 FY19.#

Total Bath & Body Works first quarter sales in the United States and Canada were $712.7 million ($870.7 million). Sales at the Bath & Body Works direct business, which remained open throughout the quarter, grew 85 percent to $288.9 million ($156.4 million).

 

L Brands, a US based fashion retailer, posted sales of $1.6 billion in first quarter (Q1) FY20 ended on May 2, 2020 compared to sales of $2.6 billion in same period prior year. Gross profit were $288.6 million (Q1 FY19: $934.0 million). Company reported a net loss of $296.8 million during the quarter compared to net income of $40.2 million in Q1 FY19.#

Sales of Victoria’s Secret during Q1 FY20 were $821.5 million ($1.5 billion).

 

L Brands, a US based fashion retailer, posted sales of $1.6 billion in first quarter (Q1) FY20 ended on May 2, 2020 compared to sales of $2.6 billion in same period prior year. Gross profit were $288.6 million (Q1 FY19: $934.0 million). Company reported a net loss of $296.8 million during the quarter compared to net income of $40.2 million in Q1 FY19.#

General, administrative and store operating expenses during the quarter reported a loss of $606.3 million. Operating loss were $317.6 million compared to operating income of $153.3 million in Q1 FY19.

 

L Brands, a US based fashion retailer, posted sales of $1.6 billion in first quarter (Q1) FY20 ended on May 2, 2020 compared to sales of $2.6 billion in same period prior year. Gross profit were $288.6 million (Q1 FY19: $934.0 million). Company reported a net loss of $296.8 million during the quarter compared to net income of $40.2 million in Q1 FY19.#

L Brands opened 5 new stores while closed 28 stores with a total stores of 2,897 during the end of Q1 FY20.