(Filed Under wholesale Lingerie News). Victoria’s Secret North America June comparable store sales (which include Pink stores) were up 1% while Victoria’s Secret direct sales dropped 4% for the month.
Meanwhile at parent company L Brands, which also owns Bath & Body Works, the Canadian La Senza lingerie stores and Henri Bendel, the situation was better. Its combined “net sales increased 3% to $1.207 billion for the five weeks ended July 4, 2015, compared to net sales of $1.176 billion for the five weeks ended July 5, 2014. Comparable store sales for the five weeks ended July 4, 2015, increased 3%,” according to a company statement.
Year to date, Victoria’s Secret and Pink North American comparable store sales are up 4% (while direct sales are down 5%). L Brands as a whole reported “net sales of $4.518 billion for the 22 weeks ended July 4, 2015, an increase of 4% compared to sales of $4.331 billion for the 22 weeks ended July 5, 2014. Comparable store sales for the 22 weeks ended July 4, 2015, increased 4%.”
Seeking to explain the June sales results at Victoria’s Secret and Pink stores, Amie Preston, chief investor relations officer stated, “Total comps were negatively impacted by about 3 points from our exit and clearance of make up last year. Our merchandise rate increased versus last year.” She added that, “At Victoria’s Secret direct, June sales decrease by 4%, as high single digit growth in core categories was more than offset by the exit of apparel.” In the direct channel, “The June merchandise margin rate was up significantly to last year, driven by the mix into core merchandise categories.”
The spokesperson noted that at its lingerie stores, “In July, we will focus on our Very Sexy Push-Up bras and BBV Collection at the end of the month. In Pink, we will focus on our Wear Everywhere bras.”
For L Brands as a whole, “we expect July comps to be up low-single digits,” she concluded.
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