January 2019 L Brands Inc Corporate Sales Call Transcript
Good morning, everyone. This is Amie Preston, Chief Investor Relations Officer, and this is L Brands' January Sales Report for the 4-week Period Ending February 2, 2019.
As a matter of formality, I need to remind you that any forward-looking statements I may make today are subject to the safe harbor Statement found in our SEC filings.
Net sales for the 4 weeks ended February 2, 2019, were $780.1 million compared to net sales of $1.04 billion for the 5 weeks ended February 3, 2018.
Comparable sales decreased 1% for the 4 weeks ended February 2, 2019, compared to the 4 weeks ended February 3, 2018. The January merchandise margin rate was down to last year.
Net sales were $4.852 billion for the 13-week fourth quarter ended February 2, 2019, compared to $4.823 billion for the 14 weeks ended February 3, 2018. Comparable sales for the 13-week fourth quarter ended February 2, 2019, increased 3% compared to the 13 weeks ended February 3, 2018.
Inventories per square foot ended the month down 3% versus last year.
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