Shares 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