L Brands (LB) June Comps Fall 9%

L Brands, Inc. (NYSE: LB) reported net sales decreased 6 percent to $1.213 billion for the five weeks ended July 1, 2017, compared to net sales of $1.296 billion for the five weeks ended July 2, 2016. Comparable sales for the five weeks ended July 1, 2017, decreased 9 percent. For June, the exit of the swim and apparel categories had a negative impact of about 7 percentage points and 10 percentage points to total company and Victoria’s Secret comparable sales, respectively.

The company reported net sales of $4.424 billion for the 22 weeks ended July 1, 2017, a decrease of 6 percent compared to net sales of $4.727 billion for the 22 weeks ended July 2, 2016. Comparable sales for the 22 weeks ended July 1, 2017, decreased 9 percent. For the 22 weeks ended July 1, 2017, the exit of the swim and apparel categories had a negative impact of about 7 percentage points and 10 percentage points to total company and Victoria’s Secret comparable sales, respectively.

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