L Brands (LB) Sept. Comps Decline 2%

L Brands, Inc. (NYSE: LB) reported net sales of $981.6 million for the five weeks ended Sept. 30, 2017, an increase of 1 percent, compared to net sales of $971.4 million for the five weeks ended Oct. 1, 2016. Comparable sales decreased 2 percent for the five weeks ended Sept. 30, 2017. For September, the exit of the swim and apparel categories had a negative impact of about 2 percentage points and 3 percentage points to total company and Victoria’s Secret comparable sales, respectively. The September hurricanes had about a 1 point negative impact to September total sales.

The company reported net sales of $7.015 billion for the 35 weeks ended Sept. 30, 2017, a decrease of 4 percent compared to net sales of $7.328 billion for the 35 weeks ended Oct. 1, 2016. Comparable sales decreased 7 percent for the 35 weeks ended Sept. 30, 2017. For the 35 weeks ended Sept. 30, 2017, the exit of the swim and apparel categories had a negative impact of about 5 percentage points and 8 percentage points to total company and Victoria’s Secret comparable sales, respectively.

To hear further commentary provided on L Brands’ prerecorded September sales message, call 1-866-639-7583, or log onto www.LB.com for an audio replay.

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