L Brands Reports February 2018 Sales

Quarter-to-date service performance data for July 1 through Sept. 24 included: *First-Class Mail: Delivered 88.1 percent of First-Class Mail on time against the USPS service standard, an improvement of 0.6 percentage points from the third quarter. *Marketing Mail: Delivered 92.5 percent of Marketing Mail on time against the USPS service standard, an improvement of 1.5 percentage points from the third quarter. *Periodicals: Delivered 82.2 percent of Periodicals on time against the USPS service standard, an improvement of 3 percentage points from the third quarter. On October 1, the Postal Service will implement new service standards for First-Class Mail and Periodicals. These new service standards will increase delivery reliability, consistency, and efficiency for our customers and across our network. Most First-Class Mail (61 percent) and Periodicals (93 percent) will be unaffected by the new service standard changes. Standards for single-piece First-Class Mail traveling within a local area will continue to be two days.

First Quarter 2024 Results: *Sales and adjusted sales both increased 13% to $341.4 million, compared to $302.8 million during the same period last year. *Gross profit increased 20% to $194.8 million, or 57.1% of sales, compared to $161.9 million, or 53.5% of sales, in the first quarter of 2023. The 360 basis point increase in gross margin was primarily due to lower inbound freight costs and lower product costs. *Operating income increased 71.0% to $25.8 million, or 7.6% of sales, compared to $15.1 million, or 5.0% of sales during the prior year quarter. *Net income increased 50% to $15.9 million, or 4.6% of sales, compared to $10.6 million, or 3.5% of sales in the prior year quarter; Net income per diluted share was $0.18, compared to $0.12 in the prior year quarter.

The U.S. Postal Service provided updated third quarter service performance data through the week of June 18th which shows performance improvement continues to hold steady since the second quarter. Performance numbers below include the weeks of April 1 through June 18: *First-Class Mail: 87.5 percent of First-Class Mail delivered on-time against the USPS service standard, an over 9 percent increase over the second quarter. *Marketing Mail: 90.8 percent of Marketing Mail delivered on time against the USPS service standard, a nearly 6 percent increase over the second quarter. *Periodicals: 79.1 percent of Periodicals delivered on time against the USPS service standard, a nearly 8 percent increase over the second quarter.