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4-Traders Homepage  >  Equities  >  Nyse  >  L Brands Inc    

L BRANDS INC
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Retailers Are Posting Mixed Same-Store Sales For March

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04/05/2012 | 02:25pm CEST
   By Karen Talley 
   Of  
 

Retailers are generally reporting mixed sales for March, early reports show, with Limited Brands Inc. (>> Limited Brands, Inc.) a standout while Costco Wholesale Corp. (>> Costco Wholesale Corporation) faltered.

Limited Brands, which operates Victoria's Secret and Bath & Body Works, posted an 8% rise in March same-store sales when 4.4% was expected.

Costco posted a 5% gain in March same-store sales in the U.S. excluding gas, when 5.7% was expected. While Costco did have positive same-store sales in all departments, the retailer may be being undercut by the competition, retail analyst Brian Sozzi said.

Teen retailers are a mixed bag. Buckle Inc. (>> The Buckle, Inc.) said same-store sales increased 6.4%, when 8.8% was projected. Wet Seal Inc. (>> The Wet Seal, Inc.) same-store sales fell 7.8% when a 6% drop was projected. Zumiez Inc. (ZUMZ) posted a 14.1% rise in same-store sales when 8.9% was expected.

Rural department store chain Stage Stores Inc. (>> Stage Stores, Inc.) said same-store sales for March rose 4.7%, when 2% was expected, with accessories, children's, cosmetics, dresses and footwear all showing strength. Geographically, the Mid-Atlantic, Midwest, Northeast, South Central and Southwest regions all had comparable store sales gains during the month. The company cited warmer than normal weather and the earlier Easter for its solid showing, but said the holiday will have a negative impact on April comparable-store sales.

The misses by quite a few companies are surprising, analysts said. "March was an absolute bull month for the consumer, so it leads me to believe those retailers that fell short did not have products and prices that resonated with consumers," said Joel Bines, managing director of the retail practice at AlixPartners. "I think we're going to see some extremely strong results from the bigger players as they report."

A 5.3% rise in same-store sales is expected from the 18 retailers tracked by Thomson Reuters. The figure compares with a 1.7% gain a year ago, when Easter came two weeks later in April.

-By Karen Talley, Dow Jones Newswires; 212-416-2196; karen.talley@dowjones.com

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Financials ($)
Sales 2018 12 447 M
EBIT 2018 1 827 M
Net income 2018 938 M
Debt 2018 3 994 M
Yield 2018 6,40%
P/E ratio 2018 11,70
P/E ratio 2019 11,24
EV / Sales 2018 1,19x
EV / Sales 2019 1,17x
Capitalization 10 771 M
Income Statement Evolution
Consensus
 
Mean consensus HOLD
Number of Analysts 29
Average target price 45,9 $
Spread / Average Target 22%
EPS Revisions
Managers
NameTitle
Leslie Herbert Wexner Chairman & Chief Executive Officer
Charles C. McGuigan Chief Operating Officer
Stuart B. Burgdoerfer Chief Financial Officer & Executive Vice President
Raymond Zimmerman Independent Director
Allan R. Tessler Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
L BRANDS INC10 771
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ROSS STORES-17.12%20 755
ZALANDO12.47%11 849
L BRANDS INC-42.97%10 771