Victoria’s Secret profits increase by 13% in Q1

Victoria’s Secret achieved a profit (operating income) of $277.8 million in Q1, an increase of 13 percent compared to the same period, last year.

The intimate apparel brand, which is part of US giant Limited Brands, saw an increase in comparable store sales of nine percent for the 13 weeks that ended on April 28, 2012.

Victoria’s Secret operated 1013 stores (full assortment) at the beginning of 2012, with 11 new store openings planned for 2012.

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Two of these new openings, together accounting for 31 square feet, will take place in the UK on Bond Street and at Westfield Stratford City shopping centre.

Limited Brands, which is also the holding group for La Senza, Bath & Beauty and Pink, saw its profit (operating income) rise by 10 percent to $293.2 million.

La Senza and Pink together saw a loss of $44.8 million (operating income) over the period. 2012 is set to see 59 La Senza store closures, accounting for over half Limited Brands’ total 101 store closures worldwide.

 

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