L Manufacturers sees vacation gross sales rise 5 p.c
THE WHAT? L Manufacturers has reported web gross sales of US$3.836 billion for the 9 weeks to January 2, 2021, up 5 p.c on the equal interval final yr.
THE DETAILS Bathtub & Physique Works was the star of the present with gross sales up 17 p.c, together with a 5 p.c rise in retailer and 6 p.c within the direct channel.
In distinction, gross sales dove 9 p.c for Victoria’s Secret, with related drops in each bricks and mortar and on-line however the merchandise margin charge for the quarter-to-date interval elevated considerably.
THE WHY? Andrew Meslow, Chief Government Officer of L Manufacturers and Bathtub & Physique Works, mentioned “We’re more than happy with our Vacation outcomes, which considerably exceeded our preliminary expectations, pushed by a rise in profitability at each Bathtub & Physique Works and Victoria’s Secret. On this difficult surroundings, we maintained our give attention to buyer and affiliate security and delivered distinctive execution. Bathtub & Physique Works continues to ship document outcomes, demonstrating the power of the model. The turnaround at Victoria’s Secret additionally continues to realize momentum, pushed by an improved merchandise assortment and targeted execution of retail fundamentals and our revenue enchancment plan.”