• L Brands Reports Fourth Quarter and Full-Year 2017 Earnings Provides First Quarter and Full-Year 2018 Earnings Guidance COLUMBUS, Ohio, Feb. 28, 2018 (GLOBE NEWSWIRE) -- L Brands, Inc.

(NYSE:LB) today reported 2017 fourth quarter and full-year results. Fourth Quarter Results Earnings per share for the 14-week fourth quarter ended Feb. 3, 2018, were $2.33 compared to $2.18 for the 13-week quarter ended Jan. The extra week in 2017 represented approximately $0.10 per share. Spawn 1997. Fourth quarter operating income was $986.6 million compared to $987.6 million last year, and net income was $664.1 million compared to $631.7 million last year.

Reported results above include certain significant items as follows: In 2017 (totaling to a net benefit of $0.22 per share): • A pre-tax charge of $45.0 million, or $0.10 per share, related to a loss on the early extinguishment of debt; • A tax benefit of $92.2 million, or $0.32 per share, related to new U.S. Tax legislation. In 2016: • A favorable tax settlement of $41.7 million, or $0.14 per share.

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Excluding these items, adjusted net income increased 2 percent to $600.6 million compared to $590.0 million last year, and adjusted earnings per share increased 4 percent to $2.11 (which includes $0.10 related to the extra week) compared to $2.03 last year. Net sales were $4.823 billion for the 14-week fourth quarter ended Feb. 3, 2018, compared to $4.489 billion for the 13 weeks ended Jan. Comparable sales for the 14-week fourth quarter ended Feb. 3, 2018, increased 2 percent compared to the 14 weeks ended Feb.

Download keyboard tracer full. The extra week in 2017 represented approximately $160 million in sales. Full-Year Results Earnings per share for the 53-week year ended Feb. 3, 2018, were $3.42 (which includes $0.10 related to the extra week) compared to $3.98 for the 52-week year ended Jan.

Full-year operating income was $1.728 billion compared to $2.003 billion last year, and net income was $983.0 million compared to $1.158 billion last year. Excluding significant items, adjusted 53-week full-year earnings per share decreased 14 percent to $3.20 (which includes $0.10 related to the extra week) compared to $3.74 last year, adjusted operating income decreased 15 percent to $1.728 billion compared to $2.037 billion last year and adjusted net income decreased 16 percent to $919.5 million compared to $1.090 billion last year. At the conclusion of this press release is a reconciliation of reported to adjusted results, including a description of the significant items. Net sales were $12.632 billion for the 53-week year ended Feb. 3, 2018, compared to $12.574 billion for the 52 weeks ended Jan. Comparable sales for the 53 weeks ended Feb. 3, 2018, decreased 3 percent compared to the 53 weeks ended Feb.

For the 53 weeks ended Feb. 3, 2018, the exit of the swim and apparel categories had a negative impact of about 3 percentage points and 5 percentage points to total company and Victoria’s Secret comparable sales, respectively. 2018 Outlook The company currently expects 2018 full-year earnings per share to be between $2.95 and $3.25, including earnings per share between $0.15 and $0.20 in the first quarter. This forecast reflects the benefit of a lower tax rate due to tax reform legislation and an incremental investment in wages and benefits, principally for hourly associates, of approximately $100 million.

Earnings Call and Additional Information L Brands will conduct its fourth quarter earnings call at 9 a.m. Eastern on March 1.

To listen, call 1-866-363-4673 (international dial-in number: 1-973-200-3978). For an audio replay, call 1-855-859-2056 (conference ID 21220375) (international replay number: 1-404-537-3406 (conference ID 21220375)) or log onto. Additional fourth quarter and full-year financial information is also available at. 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 3,075 company-owned specialty stores in the United States, Canada, the United Kingdom, Ireland and Greater China, and its brands are sold in more than 800 additional franchised locations worldwide. The company’s products are also available online at,,. 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 fourth quarter earnings 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.