(Filed Under wholesale Lingerie News). Victoria’s Secret and Pink May comparable store sales in North America fell by 2%. When combined with those stores’ direct business the May decline was only 1%.
The drop last month follows a decline in April of 3% for Victoria’s Secret and Pink stores in North America, and flat store sales in March.
For parent company L Brands, which also includes Bath & Body Works, La Senza and Henri Bendel among other segments, “net sales increased 2% to $816.6 million for the four weeks ended May 28, 2016, compared to net sales of $799.1 million for the four weeks ended May 30, 2015. Comparable sales for the four weeks ended May 28, 2016, were flat.”
L Brands also “reported net sales of $3.430 billion for the 17 weeks ended May 28, 2016, an increase of 4% compared to net sales of $3.311 billion for the 17 weeks ended May 30, 2015. Comparable sales for the 17 weeks ended May 28, 2016, increased 2%.
In comments explaining the May Victoria’s Secret and Pink store results, Amie Preston, chief investor relations, noted “Strength in the Pink business was offset by declines in beauty and core lingerie bras.”
She added, “The May merchandise margin rate was down significantly to last year primarily driven by a decline in beauty as we continue to reposition this category and by the impact of exiting non-core businesses. May began with our new Dream Angels collection and Pink floral lace halter bra. May mid-month we transitioned into the T-shirt bra which will continue until the start of semi-annual sale.”
Speaking about L Brands as a whole, Preston declared, “we expect June comps to be up low single digit, which includes positive impact from the shift of the Sunday and Monday of Memorial Day weekend into June.”
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