Q3 Loss Of Virgin Parent Company To Expand Old Sexy Underwear

In November 21st, L Brands of the virgin parent company released its third quarter earnings report. Data show that during the reporting period, the net loss of L Brands expanded nearly 6 times, from 2 million 800 thousand US dollars in the same period last year to 252 million US dollars; net sales fell 4% to 2 billion 677 million US dollars compared with the same period last year, and same store sales decreased 2% over the same period last year.

The performance of L Brands's main brand is also deteriorating. Specifically, the sales volume of the brand is $1 billion 412 million, compared with $1 billion 529 million in the same period last year, compared with a 2% decline in sales. It is worth noting that according to the statistics of journalists, this is the sixth quarter of the sale of the brand.

In addition, L Brands suffered a loss of $151 million 200 thousand in the three quarter, operating profit of $54 million 400 thousand during the same period last year, a net loss of $252 million, a net loss of 42 million 800 thousand US dollars in the same period last year, a loss of 0.91 us dollars per share, and a loss of 0.16 US dollars in the same period last year.

The adjusted operating profit was $96 million 300 thousand, compared with $155 million 600 thousand for the same period last year, and adjusted net profit of $5 million 700 thousand, compared with $45 million last year, adjusted earnings per share of $0.02, compared with $0.16 a year ago.

After falling down the altar, Wei tried to save himself. One of the most important measures was the suspension of the show. Leslie Wexner, chairman and CEO of L Brands group, once said: "fashion is a constantly changing industry. It can only be achieved through development and innovation, and TV and networks are no longer suitable for big shows."

In addition, it is also experiencing personnel changes. According to CNBC, the company headquarters in Columbo, Ohio, laid off about 50 people in October 9th and 10, including junior staff and senior leaders. The number of layoffs accounted for 15% of the headquarters staff. Reporters to verify the matter to the Wei Mi side, the other side expressed inconvenient response.

L Brands former chief marketing officer Ed Razek officially left in August, and by the end of 2018, CEO Jan Singer suddenly left.

In the past 20 years of development, the performance of the brand has gone downhill. Behind the decline of performance, there are many problems, such as the rise of feminism, the aging of the secret brands, and the difficulty in meeting the needs of products. In the era of Internet, the way of selling red goods is also a new challenge.

In 2001, when the show was first broadcast on ABC, the supermodel Heidi Klum wore FantasyBra to show its attention to the brand. Weim show has become the global fashion vane for underwear.

However, data show that in recent years, the ratings of the show have plummeted. Data released by Showbuzz show that after 2011, the ratings of the media show a sharp downward trend. In 2015, the ratings of the "Wei Mei Xiu" fell by 30%, and the number of viewers dropped to 6 million 590 thousand. The audience rating of the 18 to 49 year olds of the main force was 2.3%. In 2016, the audience rating of 18 to 49 years old was only 2.1%, compared with that of 2015. In 2016, the show went to Shanghai to seek the development of the Chinese market. However, the audience rating declined by 3%, and the total audience number was no more than 5 million.

By 2018, the ratings of the ABC show were declining, and the total number of viewers fell to 3 million 270 thousand, of which the audience rating of viewers aged 18 to 49 was only 0.9%. In addition, the volume of the 2018 Tencent show on the Tencent platform was 211 million 263 thousand, a sharp decline compared with the previous 363 million 305 thousand. Zhou Ting, director of the luxury goods expert and guest Research Institute, told the Beijing News reporters that the announcement of the big show's suspension is normal. Now the information is developed and the audience is paying more attention. Traditional show shows great challenges. In addition, the attractiveness of supermodels has been diluted by countless KOL, so the show is not innovative, and it can only be stopped by the Internet. As of November 20th closing, L Brands shares fell 7.5% to 1 billion 589 million U.S. dollars, the latest market value of about 4 billion 400 million dollars.