In Brief: Intimate Brands
This article was originally published in The Rose Sheet
Executive Summary
Intimate Brands: Bath & Body Works store sales up 53.7% to $133.1 mil. during the third quarter, Intimate Brands reported Nov. 19. On a comparable basis, store sales increased 2%. Operating income for the division advanced 32% over the three-month period. Bath & Body Works has opened 239 stores over the past 12 months, a 48% increase over the prior-year period, the company said. Victoria's Secret store sales advanced 15.1% to $304.5 mil. during the quarter. Intimate Brands noted that the Victoria's Secret business "should benefit" from the "new dedicated sales force" at the 431 Victoria's Secret Bath & Fragrance stores. Consolidated Intimate Brands sales climbed 18% to $597 mil. for the third quarter. On a comparable basis, store sales increased 5%. Net income was up 19% to $27.2 mil...