Thursday, August 22, 2019

L Brands second-quarter profit drops sharply as Victoria’s Secret lags

The Columbus Dispatch
L Brands said Wednesday that its second-quarter profit tumbled from the same period in 2018, dragged down by a one-time charge and continued struggles at Victoria’s Secret.

Revenue fell to $2.9 billion during the quarter from $3 billion in the same period in 2018.

The company said comparable store sales, an indicator of a retailer’s strength, fell 6% at Victoria’s Secret but rose 8% at Bath & Body Works. Overall, comparable store sales fell 1%.. . . more

No comments:

Post a Comment