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E-commerce accounts for 21% of Victoria’s Secret’s revenue in Q2

August 18, 2016 02:14 PM
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E-commerce’s share of Victoria’s Secret’s sales is inching ever higher.

The retailer, which is owned by L Brands Inc., No. 28 in Internet Retailer 2016 Top 500 Guide, reported Wednesday that Victoria’s Secret’s revenue rose 3.4% during the fiscal second quarter ended Aug. 1. The retailer’s direct-to-consumer channel—of which e-commerce represents a large share of sales—accounted for 21.3% of the business unit’s overall revenue, up from 20.4% a year earlier.

Helping the retailer’s bottom line was the fact that its same-store sales rose 3% during the quarter. That stands distinct from other mall-based retailers like Macy’s Inc., which last week announced plans to close 100 stores within the next year after reporting its second quarter sales dropped 3.9% year over year.

For the fiscal second quarter ended Aug. 1, L Brands reported:

  • Total revenue across its stores of $2.890 billion, up 4.5% from $2.765 billion a year earlier.
  • Victoria’s Secret Direct revenue of $398.3 million, up 8.0% from $368.9 million.
  • Total Victoria’s Secret revenue of $1.867 billion, up 3.4% from $1.806 billion.
  • Victoria’s Secret Direct revenue accounted for 21.3% of the business unit’s overall revenue, up slightly from 20.4%.
  • Bath & Body Works Direct revenue, which is largely online, of $92.3 million up 21.1% from $76.2 million.
  • Total Bath & Body Works revenue of $801.4 million, up 7.1% from $748.2 million.
  • Bath & Body Works Direct revenue accounted for 11.5% of the business unit’s overall revenue, up from 10.2%.
  • Net income of $252.4 million, up 24.7% from $202.4 million.

For the first half of the year, L Brands reported:

  • Total revenue across its stores of $5.504 billion, up 4.3% from $5.277 billion a year earlier.
  • Victoria’s Secret Direct revenue of $757.9 million, up 7.2% from $707.2 million.
  • Total Victoria’s Secret revenue of $3.608 billion, up 3.4% from $3.490 billion.
  • Victoria’s Secret Direct revenue accounted for 21.0% of the business unit’s overall revenue, up slightly from 20.3%.
  • Bath & Body Works Direct revenue, which is largely online, of $165.9 million up 22.4% from $135.5 million.
  • Total Bath & Body Works revenue of $1.462 billion, up 7.3% from $1.362 billion.
  • Bath & Body Works Direct revenue accounted for 11.3% of the business unit’s overall revenue, up from 9.9%.
  • Net income of $404.7 million, down 10.6% from $452.9 million.
 

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