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Craig Warga/Bloomberg
L Brands shares got a boost in Thursday trading after announcing a 5% increase in same-store sales for the holiday period compared to a year ago.
The retailer, which houses Bath & Body Works and Victoria’s Secret, has been trying to plot a comeback after years of underperformance at Victoria’s Secret. L Brands (ticker: LB) stock more than doubled in 2020 and was up 5.6% in Thursday trading.
Net sales for the nine weeks ending Jan. 2 came in at $3.8 billion, just below $3.9 billion in the year-ago period. Bath & Body Works saw a 17% jump in comparable sales with online sales climbing 64%. But at Victoria’s Secret, comparable sales fell 9% due to a 23% drop in store sales that was not offset by a 24% increase in online sales.
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