L Brands (LB) May Comps Decline 7%

L Brands, Inc. (NYSE: LB) reported net sales decreased 5 percent to $774.3 million for the four weeks ended May 27, 2017, compared to net sales of $816.6 million for the four weeks ended May 28, 2016. Comparable sales for the four weeks ended May 27, 2017, decreased 7 percent. For May, the exit of the swim and apparel categories had a negative impact of 10 percentage points and 14 percentage points to total company and Victoria’s Secret comparable sales, respectively.

The company reported net sales of $3.211 billion for the 17 weeks ended May 27, 2017, a decrease of 6 percent compared to net sales of $3.430 billion for the 17 weeks ended May 28, 2016. Comparable sales for the 17 weeks ended May 27, 2017, decreased 9 percent. For the 17 weeks ended May 27, 2017, the exit of the swim and apparel categories had a negative impact of 7 percentage points and 10 percentage points to total company and Victoria’s Secret comparable sales, respectively.

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