L Brands continues to see sales dip for the month of August
For the four weeks leading up to August 26, the Columbus, Ohio-based company reported a 1 percent decrease in sales to $842.1 million, compared to $852.9 million for the same period in 2016. Comparable sales took an even harder hit, with a 4 percent dip in sales.
The dip was reflective of an ongoing pattern at the company. In the 30 weeks leading up to August 26, L Brands saw a 5 percent decrease in net sales to $6.034 billion, compared to $6.356 billion in the same period the previous year. Comparable sales fell 8 percent. The company attributed the fall in sales to the exit of the swim and apparel categories, particularly in sales for the company’s largest brand, Victoria’s Secret.
The Ohio-based company owns the apparel and skincare brands Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, operating more than 3,000 stores in the United States, Canada, China and the United Kingdom. Earlier this month the company added Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel to its board of directors.
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