L Brands (LB) Comps Fell 1% in March

L Brands (NYSE: LB) reported net sales increased 3% to $923.7 million for the five weeks ended April 5, 2014, compared to net sales of $894.8 million for the five weeks ended April 6, 2013. The company reported comparable store sales for the five weeks ended April 5, 2014 decreased 1%, in line with expectations, as the later Easter timing this year negatively impacted March comparable stores sales by 2 to 3 percentage points.

The company reported net sales of $1.674 billion for the nine weeks ended April 5, 2014, an increase of 4% compared to sales of $1.607 billion for the nine weeks ended April 6, 2013. The company reported flat comparable store sales for the nine weeks ended April 5, 2014, compared to the nine weeks ended April 6, 2013.

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