US: Victoria's Secret posts Q4 growth
- Fourth quarter net profit rose 14.4% to $411.39m
- Sales grew 9.7% to $3.86bn
- Gross margin increased to 44.5% from 43.45%
The company saw net profit rise 14.4% to US$411.39m over the quarter ended 28 January, from $359.4m in the same period of the prior year.
Sales grew 9.7% to $3.86bn, as comparable sales increased 5%. Gross margin increased to 44.5% from 43.45% last time.
For the full year, net income fell to $752.9m from $850.1m last year. However, 2011's results included $702.4m attributable to its Mast apparel sourcing business, which was sold in November 2011.
Revenue was $10.45bn, compared to $10.36bn in 2011, with comparable sales increasing 6% over the year.
The company expects 2013 full year earnings per share to be between $2.92-3.12, up on the adjusted EPS of $2.60 recorded for the 2012 financial year.
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UK occasion wear retailer Coast has named Kate Bostock, the former head of general merchandise at Marks & Spencer, as its new CEO, tasked with developing the business into an "international omni-chann...
Victoria's Secret has moved to protect its Pink brand in the US, after shirt maker Thomas Pink sued the company over the use of the word in a UK court. ...
Former Marks & Spencer lingerie director Janie Schaffer is reportedly seeking more than GBP1m (US$1.4m) in compensation from the UK retailer....
Coast managing director Margaret McDonald is to leave the occasionwear retailer later this year to take up the role of president of Victoria's Secret lingerie....
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