L Brands May Comps Declines 7%, Net Sales Down 5%

(RTTNews) - L Brands Inc. (LB) Thursday reported 7 percent decline in May comparable sales, while net sales for the four weeks ended May 28 declined 5 percent to $774.3 million from $816.6 million in the previous period. The company noted that 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.

For the 17 weeks period ended May 27, the company reported 9 percent decline in comparable sales, while net sales were down 6 percent to $3.211 billion from $3.430 billion a year ago.