The more low-key of L Brands Inc.’s [stckqut]LB[/stckqut] brands is ready to be thrust into the spotlight.
During a Tuesday conference for stock analysts, the Columbus-based retailer and owner of Victoria’s Secret said it is putting more investment into its more than 1,600-store Bath & Body Works chain, including rolling out more White Barn candle shops, the brand it quietly revived last year.
CFO Stuart Burgdoerfer said the remodeled stores are producing a 25 percent increase in sales, so next year the company is looking at 39 new stores with 150 remodels, most of which will have a White Barn.
CEO Les Wexner stressed the importance of finding growth within existing stores and real estate. He talked about being able to change stores to stay with the customers of the day and preserve those real estate investments the company made in new stores 10 to 15 years ago.
“This is way bigger than the Internet,” he said, noting that analysts always ask him about Internet sales. “It’s not as sexy, but to remodel a 10-year-old store and be able to get a 25 percent lift? ... 5, 7, 10 percent would be remarkable.”