American lingerie retailer L Brands Inc, has managed to secure a marginal boost in sales in the wake of a financial slump following the exit of swimwear.
L Brands, whose portfolio includes Victoria’s Secret, Pink and La Senza, has reported a 1% increase in September 2017 net sales, when it took $981.6m (£744.6m), compared to 2016, when it reported $971.4m (£736m).
Despite the growth in net sales, comparable sales for September fell by 2%.
The exit of the swim and apparel categories had a negative impact on the company’s sales.
L Brands has reported that about two percentage points was down to the exit of swim, three percentage points to apparel categories and one point due to Carribean hurricanes.
For the 35 weeks ending September 30, 2017 , the exit of the swim and apparel categories had a negative impact of roughly five percentage points.
Earlier this year the parent company recorded a decline in sales for March, with like-for-like sales at Victoria’s Secret down 13% in the five weeks to April 1.