Bath & Body Works posts strong second quarter sales growth
Bath & Body Works Inc., formerly known as L Brands Inc., has reported that net sales climbed to $3.318 billion in its second quarter from $2.319 billion in the same period in 2020.
In the three months 31 July, sales were up 14% on the corresponding quarter in 2019, despite trading being impacted by the closure of stores for around half the period due to the Covid-19 pandemic.
The company’s Bath & Body Works fascia grew its net sales to $1.704 billion from $1.253 billion in 2020.
Meanwhile. Victoria’s Secret’s net sales were $1.614 billion in the second quarter compared to $1.066 billion in the corresponding period in 2020. On a two-year basis, sales increased by 5%.
Andrew Meslow, chief executive of Bath & Body Works, said: “Anchored by our leadership position spanning key product categories, combined with our continued strong performance across channels and our growing, loyal customer base, Bath & Body Works is well positioned to continue delivering growth and profitability. We are also pleased to have completed the separation from Victoria’s Secret, which we announced on 3 August 2021, subsequent to the end of the second quarter.”
