(Filed Under wholesale Lingerie News). Victoria’s Secret and Pink August comparable store and direct sales in the U.S. and Canada dropped 5%. Store sales alone, without benefit of the rising online and catalog business, were down 9%.

Amie Preston, chief investor relations for parent company L Brands stated the drop in combined sales for the lingerie brands was “driven by a decline in Pink that more than offset growth in beauty. Lingerie comps were roughly flat.” She added, “The merchandise margin rate was down significantly to last year, driven by increased promotional activity.”

Looking ahead she noted, “September will begin with a focus on Sexy Illusions and will transition to our Pink Date Bra collection later in the month.”

L Brands, which also owns Bath & Body Works, the La Senza lingerie stores (which operate mainly in Canada) and Henri Bendel, reported overall “net sales of $856.3 million for the four weeks ended September 1, 2018, compared to net sales of $842.1 million for the four weeks ended August 26, 2017. Comparable sales increased 1 percent for the four weeks ended September 1, 2018, compared to the four weeks ended September 2, 2017.”

In addition, “The company reported net sales of $6.466 billion for the 30 weeks ended September 1, 2018, compared to net sales of $6.034 billion for the 30 weeks ended August 26, 2017. Comparable sales increased 2 percent for the 30 weeks ended September 1, 2018, compared to the 30 weeks ended September 2, 2017.” — NM

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Published 09-07-2018 by Nick Monjo