L Brands, the owner of Victoria’s Secret says September sales up

The parent company of Victoria Secret, L Brands Inc (NYSE:LB)  said that September total sales rose 1.1%, reversing the downtrend seen in August.

In a statement, the company said that sales in the month rose to US$981.6mln, from US$971.4mln in the same period a year ago.

READ: Victoria’s Secret parent L Brands Inc. reports sales decline in August

In August, total sales fell 1% to US$842.1mln.

In September, same-store sales fell 2%. The apparel retailer said the exit of the swim and apparel categories reduced total sales by about 2 percentage points and lowered same-store sales by about 3 percentage points.

In August, same-store sales declined 4%.

For the fiscal third-quarter which ends in October, Wall Street’s consensus is for total sales to decline by 0.6% to US$2.57bn and for same-store sales to dip 2.5%.

Victoria’s Secret is famous for its premium underwear and glamourous fashion shows fronted by supermodels, including Gigi Hadid, Karlie Kloss and Adriana Lima. 

L Brands also owns PINK, Bath & Body Works, La Senza and Henri Bendel.

Story by ProactiveInvestors