L Brands Q2FY17 net sales down to $2.755 billion

American fashion retailer L Brands has recorded net sales worth $2.755 billion for the second quarter of fiscal 2017 that ended on July 29, 2017, compared to sales worth $2.890 billion for the second quarter of the previous year. The company has reported 8 per cent decrease in the comparable sales for the second quarter of the fiscal 2017.

The second quarter comparable sales decline of 8 per cent was below the company’s expectations. For the reported period, 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.

Earnings per share for the second quarter of fiscal 2017 were $0.48 compared to $0.87 for the corresponding quarter of the previous year. Second quarter operating income was $300.9 million compared to $408.2 million last year, and net income was $138.9 million compared to $252.4 million last year.