L Brands has announced its fourth quarter and full year results for the period ended January 28, 2017. The owner of Victoria’s Secret and Bath & Body works saw sales increase 2 percent in the final quarter of the financial year to US$4.489 billion, despite a poor performance from its flagship Victoria’s Secret brand, who saw sales dive 10 percent in the last month.
Sales for the full year grew 3 percent to US$12.574 billion, despite the negative impact of the firm’s exit from the swimwear and apparel categories. Bath & Body Works was responsible for the lion’s share of that sales increase, with sales up 6 percent over the year, compared to a flat performance by stablemate Victoria’s Secret.
The company also announced a US$250 million share buy-back program.