L Brands’ Growth Remains Steady; Guides Moderate Improvement For 2015

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The retailer’s net sales growth wasn’t ahead of its comparable sales growth despite continued expansion, because negative currency headwinds had a negative impact of one percentage point on revenue growth. On the profitability side, L Brands gross margins expanded 90 basis points as the company successfully scaled back on promotional activities. Its SG&A as percentage of revenues deleveraged 20 basis points due to higher store selling expenses, but overall operating income increased 11% and margins rose 70 basis points.

Vía Forbes Real Time http://onforb.es/1Kx5ATo