Victoria's Secret Parent L Brands May Same-store Sales Fall 7%

L Brands Inc. said Thursday same-store sales fell 7% in May from the year-earlier period. Net sales fell 5% to $774.3 million, the parent of lingerie retailer Victoria's Secret said in a statement. "The exit of the swim and apparel categories had a negative impact of 10 percentage points and 14 percentage points to total company and Victoria's Secret comparable sales, respectively," said the statement. Shares were not yet active but are down 22% in 2017, while the S&P 500 has gained 8%.