Friday, May 5, 2017

Victoria’s Secret is dragging L Brands down

Image result for victoria secret storeShares of L Brands fell by more than 4 percent in early morning trading after the Columbus-based retailer reported a sales decrease for comparable stores in April that were worse than Wall Street expectations.

Comparable store sales, a key indicator of a retailer’s health, fell by 5 percent. Wall Street analysts had been expecting a drop of 3.3 percent.

By brand, Victoria’s Secret showed the biggest drop in comparable store sales, falling by 12 percent, well off Wall Street’s expectations of a 6.8 percent drop at the lingerie brand. . . . more

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