La Senza is being sold to a Regent LP affiliate
L Brand said that they could have more benefits from Regent if La Senza was sold later.
Selling La Senza is one step of L Brands to reduce their brands number and increase revenue from business operation
The sale of La Senza took place when L Brands was carrying out other steps to change their business operation, including close down handbags and accessories retailer Henri Bendel after holiday season. Chief executive Leslie Wexner said he wanted to focus on the company’s lager brands.
La Senza is expected to generate $250 million in revenue and $40 million of operating loss this year. There are 118 La Senza stores in Canada and 11 in the US as of November 3. After selling La Senza and removing Henri Bendel, L Brands still has Victoria’s Secret, PINK and Bath & Body Works. Sales from these three brands overwhelmed sales of L Brands from La Senza and Henri Bendel.
L Brands sells La Senza to a Regent LP affiliate / Ph: Facebook
Most of L Brands’ sales comes from Victoria’s Secret. Last month, the Wall Street journal reported that the Chief executive of Victoria’s Secret underwear division, Jan Singer, had left. The company then announced that Tory Burch John Mehas would take over the position in early of 2019.
Expected sales of L Brands after selling La Senza
Third quarter net profit of L Brands increased by 6% in comparison with one year ago to reach $2.78 billion. The company lost $43 million and had a profit of $86 million in the first stage of the year.
Analysts surveyed by Fact Set expected L Brands to generate $ 7.35 billion in revenue in 2018. The company’s shares had fallen 48% this year but were rose 1% to $31.8 in early trading.
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