L Brands Sees Flat May Same-store Sales, Expects Low Single Growth In June

By Markets MarketWatch Pulse

L Brands Inc. said a later Memorial Day impacted May same-store sales, which were flat to last year, but expected the holiday to lift June same-store sales, since Sunday and Monday of the weekend would be included in the month. The company's shares were up nearly 2% in premarket trade. Overall sales for the four weeks ending in May 28 were $816.6 million, up from $799.1 million for the comparable four-week period last year. Victoria's Secret had a 1% decline in May comparable sales, compared with last year, which the company attributed to a decline in beauty, which the company said it is working on repositioning. L Brands shares declined 21.5% in the last three months, compared with a 5.7% rise in the S&P 500 .

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