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L Brands July comparable sales drop 7 percent

L Brands has reported net sales of 767.7 million dollars for the four weeks ended July 29, 2017, compared to 777 million dollars for the same period ended July 30, 2016. Comparable sales decreased 7 percent. For July, L Brands said, 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 dollars for the 13 weeks compared to 2.890 billion dollars for the same period last year, while comparable sales decreased 8 percent. For the 13 weeks, the exit of the swim and apparel categories had a negative impact of about 6 percentage points and 9 percentage points to total company and Victoria’s Secret comparable sales, respectively.

For the 26 weeks, the company reported net sales of 5.192 billion dollars compared to 5.504 billion dollars for the 26 weeks ended July 30, 2016. Comparable sales decreased 9 percent for the period. The exit of the swim and apparel categories, the company said, had a negative impact of about 6 percentage points and 9 percentage points to total company and Victoria’s Secret comparable sales, respectively.

The company stated that it expects to report second quarter earnings per share at the high end of its previous guidance range of 0.40 dollar to 0.45 dollar per share.

Picture:Victoria's Secret website