Friday, January 10, 2020

L Brands lowers guidance as Victoria’s Secret drags down holiday performance

Chain Store Age
L Brands’ sales fell in the crucial holiday shopping season amid the ongoing decline of its signature Victoria’s Secret brand.

The company reported net sales of $3.9 billion for the nine weeks ended Jan. 4, 2020, compared to net sales of approximately $4.1 billion in the year-ago period. Total same-store sales decreased 3% compared to a 4% increase last year. . . . more