L Brands Reports Third Quarter 2017 Earnings

During this quarter we continued our aggressive efforts to stabilize service, implement necessary network initiatives, reduce costs, grow volume and revenue, and lead change both internally and externally. We addressed local pockets of deficient performance and made improvements. We expect these improvements to continue in the coming weeks. Despite significant weather events, service performance for market-dominant and competitive products improved when compared to last quarter — with 60 percent of market-dominant volume delivered early and 95 percent of volume delivered within a day of its service standard. And I’m happy to say, on average, our customers still receive their mail and packages in less than three days. These improvements are attributed to our focused persistence and cross-functional engagement, in areas where performance does not meet our high expectations.

FY23 fourth quarter service performance scores covering July 1 through August 18, included: *First-Class Mail: 91.4 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 1.2 percentage points from the fiscal third quarter. *Marketing Mail: 95.2 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.1 percent of Periodicals delivered on time against the USPS service standard, a decrease of 2.8 percentage points from the fiscal third quarter.

The U.S. Postal Service is primed and ready to deliver exceptional service during the 2024 holiday rush, thanks to the substantial progress USPS has made under the Delivering for America plan — a $40 billion investment aimed at revitalizing the national postal network. Throughout 2024, USPS has been relentlessly working toward the objectives of its 10-year Delivering for America plan. By harnessing the power of network modernization, an upgraded delivery fleet and the successful launch of the USPS Ground Advantage and USPS Connect services, the Postal Service is building a reenergized, nationwide integrated mail and package network.