L Brands April Comps. Down 5%; Updates Q1 Earnings Guidance - Quick Facts

(RTTNews) - L Brands, Inc. (LB) reported net sales decreased 2 percent to $719.6 million for the four weeks ended April 29, 2017, compared to net sales of $737.5 million for the four weeks ended April 30, 2016. Comparable sales decreased 5 percent, and were positively impacted by the later Easter holiday in the current year by about 3 percentage points.

The company reported net sales of $2.437 billion for the first quarter ended April 29, 2017, a decrease of 7 percent compared to sales of $2.614 billion for the quarter ended April 30, 2016. Comparable sales for the first quarter decreased 9 percent.

The company expects to report first-quarter earnings per share of about $0.30, which includes a benefit of about $0.05 related to a lower tax rate than what was assumed in the prior earnings per share guidance of $0.20 to $0.25.