L Brands July Comps. Down 7%; Expects Q2 EPS At High End Of Prior Guidance

(RTTNews) - L Brands, Inc. (LB) reported net sales of $767.7 million for the four weeks ended July 29, 2017, compared to $777.0 million for the four weeks ended July 30, 2016. Comparable sales decreased 7 percent for the four weeks ended July 29, 2017. For July, the exit of the swim and apparel categories had a negative impact of about 4 percentage points and 5 percentage points to total company and Victoria's Secret comparable sales, respectively.

The company reported net sales of $2.755 billion for the 13 weeks ended July 29, 2017, compared to sales of $2.890 billion for the 13 weeks ended July 30, 2016. The company reported a comparable sales decrease of 8 percent for the 13 weeks ended July 29, 2017.

L Brands stated that it expects to report second quarter earnings per share at the high end of its previous guidance range of $0.40 to $0.45 per share.