L Brands reports mixed September sales results

By

Obi Anyanwu

Published
Oct 6, 2017

L Brands reported on Thursday mixed September sales results and its sales results for the 35 weeks ended on September 30, 2017.
 

The company performed better in September than it did in August when net sales decreased 1% and comparable sales fell 4%. Net sales for the month increased 1% to $981.6 million from $971.4 million in the previous year, but comparable sales decreased 2% in the period.
 
The recent hurricanes that hit the US had a 1 point negative impact on September total sales and the exit of the swim and apparel categories once again had a negative impact of 2 percentage points on the total company and 3 percentage points on Victoria’s Secret comparable sales.

For the 35 weeks ended on September 30, 2017, net sales fell 4% to $7.015 billion and comparable sales fell 7%. The total company and Victoria’s Secret comparable sales were negatively impacted by the exit of the swim and apparel categories by 5 percentage points and 8 percentage points, respectively.
 
Victoria’s Secret may see an uptick in business by the end of 2017 due to the opening of its first store in Spain and its upcoming collaboration with Balmain. The collection is slated to launch on November 29, one day after the 2017 Victoria’s Secret Fashion Show airs on CBS.