L Brands June sales rise but at slower pace than in May; stock falls

MarketWatch - MarketPulse

Shares of L Brands Inc.
LB, -2.75%
fell 2.6% in premarket trade, after the Victoria’s Secret and Bath & Body Works parent reported June same-stores sales rose 3% from a year ago, after a 5% increase in May. Total sales for the five weeks ended July 7 increased 6% to $1.28 billion, after a 10% increase to $851.9 million in May. The FactSet consensus for the fiscal second-quarter, which ends in July, is for same-store sales growth of 2.5% and total sales of $2.92 billion. The stock has tumbled 39% year to date through Wednesday, while the SPDR S&P Retail ETF
XRT, -0.93%
has climbed 8.8% and the S&P 500
SPX, -0.71%
has gained 3.8%.


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