FINANCE

Bath & Body Works net sales improve 14 percent against Q2 2019

Bath & Body Works, Inc. formerly known as L Brands, Inc. reported net sales of 3.318 billion dollars for the second quarter compared to 2.319 billion dollars for the second quarter ended August 1, 2020. The quarter’s sales increased by 14 percent, compared with a total of 2.902 trillion dollars in 2019.

Bath & Body Works’ net sales were 1.704 billion dollars compared to 1.253 billion dollars for the same quarter in 2020 and increased 54 percent compared to the same period of 2019.┬áVictoria’s Secret net sales were 1.614 billion dollars for the quarter compared to 1.066 billion dollars for the second quarter in 2020. Comparable sales of Victoria’s Secret for the quarter rose 5 percent over 2019.

Reported earnings per share reached 1.34 dollars compared to a loss per share of 18 cents for the quarter ended August 1, 2020. Operating income for the second quarter was 599.1 millions dollars, compared with 44 million last year. Net income was 374.2 million dollars, compared to a net Loss of 49.6million dollars last year.

The company is forecasting third quarter earnings per share between 55 cents and 60 cents, which excludes one-time costs related to the spin-off of Victoria’s Secret, compared to adjusted earnings per share from continuing operations of 83 cents in 2020 and 20 cents in 2019.