The lower the fascination, the world's first underwear brand Victoria's Secret Victoria's secret ("Victoria's Secret") in August was even worse, same-store sales fell 5%, far worse than the market's expected 3.8% decline, Excluding the online channel, the decline in physical stores is as high as 9%, which has continued to deteriorate from the increase and fall since May.
Under Trump's tax cuts and strong US economic growth, Victoria'ssecret parent company, L Brands Inc. (NYSE: LB), was the worst Newchic Coupon performer in the US retail industry in the past year, and its share price has continued to hit an eight-year low. Investors are
In August, BBW recorded a strong 15% strong same-store sales growth, with physical business same-store sales increasing by 14%, which spurred L Brands to record 1% same-store sales growth in August, eliminating e-commerce, the US beauty and underwear giant 8 Same-store sales in the month fell 2%.unable to see the hope of recovery from the current state of the brand. If it is not the beauty business of Bath & Body Works (hereinafter referred to as "BBW"), it is believed that "bankruptcy" comments may appear.
Since BBW's performance far exceeded the market expectation of 5% same-store sales growth, L Brands Inc.'s stock price barely fell again after the August data was released, maintaining a narrow range of shocks.
As of September 1st, L Brands Inc. sales increased by 1.7%, from $842.1 million to $856.3 million.
L Brands Inc.'s crisis is not only reflected in Victoria's secret brand, but also Pink, as the average vice-brand brand targeting young consumers, Pink has maintained double-digit growth all year round, but recently, the brand has declined and has not Signs of improvement. Pink CEO Denise Landman said in the second quarter of his earnings report that the Pink business continued to slump and the single-digit decline in same-store sales, with a 2% negative impact on the swimwear business that was withdrawing. She said that Pink is trying to make up for the business through Bra.
Denise Landman will retire before the end of the year and will be replaced by Amy Hauk, President of BBW Product Development and Business, who joined the group in 2008.
For the particularly sluggish physical business, Victoria's secret has begun to implement the store closing strategy this year. In the second quarter earnings report, the group's chief financial officer Stuart Burgdoerfer announced that it plans to close 20 stores in the current fiscal year. The group has closed six stores in the North American market, but plans to add three more.
According to the data, on February 3, 2018, this year, L Brands Inc. operates 984 secret stores in Victoria, 140 Pink stores in the United States, 39 secret stores in Canada, and 7 Pink stores in Canada. Victoria's secret brands in the North American market have a total of 1,170 stores. As of September 1st, the first seven months of the 2018 fiscal year, the number of North American stores fell to 1,164, and all the closing stores occurred in August, which closed 6 US Victoria's secret stores and 1 Pink Canada store. At the same time, a new secret store in Victoria, USA was added.
Investment bank Jefferies analyst Randal Konik said earlier that Victoria's secret brand has gone bankrupt, with little value left, and the brand value of Pink is bankrupt, noting that Pink is in the early stages of a long-term recession. He also sneered at the strong BBW business, arguing that its cyclical strength will eventually slow down, and BBW will not be able to support its entire group.
L Brands Inc., which recorded revenue of $12,232.4 million in FY2017 as of February 3, now has a market capitalization of less than $8 billion, although investors believe that the group is currently less than 9 times P/E, which is the best time. . However, in the case that the core data of the group continues to plummet, its market sales rate may further decline, and its international market, especially the investment in the Chinese market, will be a black hole in the group's profits.
The quarterly results released on August 22 showed that in the second quarter, L Brands Inc. EBIT plunged 40.6% to US$129 million, compared with US$217.1 million in the same period of 2017. EBIT margin fell 4.3% year-on-year, 356 basis points. It fell 28.7%, from $138.9 million to $91.034 million; operating profit fell 24.2% to $228.1 million during the period, compared with $300.9 million in the same period last year, operating profit margin of 7.6% plunged 330 basis points year-on-year; It fell 180 basis points to 35.5%, and gross profit of 1.059 billion US dollars increased 3.0% year-on-year.
As Victoria's secrets gradually become consumer abandonment, the brand has to sell at a discount throughout the year, and the brand's EBIT margin has plummeted by 1,000 basis points from its peak, although the brand still Soufeel Coupons generates $900. During the reporting period, Victoria's secret brand operating margin plummeted by 480 basis points to 6.0%.
The American giant turned a blind eye to the success of American Eagle Outfitters Inc. (NYSE:AEO)'s lingerie brand Aerie, the mistakes of Victoria, the secret of Victoria, the legendary and giant of the underwear industry, now from product to marketing, from price To word of mouth, they are being abandoned by consumers.
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