Consistent with expectations disclosed in the company’s July 28, 2020 business update, net sales were $2.319 billion for the quarter ended Aug. 1, 2020, a decrease of 20 percent compared to sales of $2.902 billion for the quarter ended Aug. 3, 2019. Total Bath & Body Works second quarter sales in the United States and Canada were $1.197 billion, an increase of 13 percent compared to $1.061 billion last year. Total Victoria’s Secret second quarter sales in the United States and Canada were $977.5 million, a decrease of 39 percent compared to $1.606 billion last year. Reported loss per share for the second quarter ended Aug. 1, 2020, was $0.18 compared to earnings per share of $0.14 for the quarter ended Aug. 3, 2019. Second quarter operating income was $44.0 million compared to $174.6 million last year, and net loss was $49.6 million compared to net income of $37.6 million last year.

Once again this year we decided to weigh the September issues. Without access to ad page data, book size becomes an increasingly more important indicator than in years past. And this year, the indicator is not good. September was always the one time when these publications truly believed big is beautiful, but they are starting to become as petite as those who grace their covers. To conduct this research we went out and procured the magazines the old fashioned way—on the newsstand. Here’s the rather disturbing thing: they weren’t all that easy to find. We visited a few different newsstands, asked the clerks about them, and were met with a blank stares. It wasn’t until we visited a major book retailer were we able to purchase all nine titles. Perhaps that alone is a telling enough indicator that the September issues don’t carry the weight they once did. Nevertheless, we still walked out of the store with nine magazines that weighed in at nearly 15 pounds (plus we got a really cool commemorative tote for buying Vogue). Still, that’s a loss of nearly five cumulative pounds versus last year. Nobody will congratulate these titles for their dramatic weight losses. Click Read More below for more of the story.

Second Quarter Fiscal Year 2020 Financial Highlights *Adobe achieved record quarterly revenue of $3.13 billion in its second quarter of fiscal year 2020, which represents 14 percent year-over-year growth. Diluted earnings per share was $2.27 on a GAAP basis, and $2.45 on a non-GAAP basis. *GAAP operating income in the second quarter was $1.02 billion, and non-GAAP operating income was $1.34 billion. GAAP net income was $1.10 billion, and non-GAAP net income was $1.19 billion. *Cash flows from operations was $1.18 billion.