Several U.S. apparel retailers are reporting sales increases for the month of June. Victoria’s Secret parent L Brands (LB) reported net sales that rose 3% to about $1.2 billion. Comparable store sales also increased 3%, narrowly missing analyst expectations for a 3.4% rise, according to Thomson Reuters. The company’s results were driven by Bath & Body Works June comparable sales that rose 6% on a strong response to the chain’s semi-annual sale. Victoria’s Secret comparable sales rose just 1%, down from 3% a year ago and short of analyst estimates for a 3.6% climb. Discount retailer Stein Mart (SMRT) reported total sales for the period that rose 7.5% from June 2014 to $121.7 million. Comparable sales rose 5.8%. Stein Mart said geographically, sales across all regions were strong except the Northeast and Midwest, which were more challenged.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
