(Filed Under wholesale Lingerie News). Victoria’s Secret and Pink comparable U.S. and Canada store and direct sales rose 2% in May. A gain, yes, but that is compared against a huge drop of 14% last May.

Comparable U.S. and Canada store sales for the two brands (without the direct business added in) fell 2% on top of an 11% decline in May of 2017.

Amie Preston, chief investor relations officer for parent company L Brands, explained that the increase in combined store and direct comps in May for the two brands was “driven by growth in beauty and lingerie. Excluding swim, Pink comps were about flat.” She added, “The merchandise margin rate was down significantly to last year driven by additional promotional activity in order to drive traffic.”

L Brands as a whole “reported net sales increased 10 percent to $851.9 million for the four weeks ended June 2, 2018, compared to net sales of $774.3 million for the four weeks ended May 27, 2017.”

In addition to VS and Pink, L Brands also owns the La Senza lingerie brand (with 119 stores in Canada and five in the U.S.), Bath & Body Works and Henri Bendel. The firm as a whole reported “net sales of $3.478 billion for the 17 weeks ended June 2, 2018, an increase of 8 percent compared to net sales of $3.211 billion for the 17 weeks ended May 27, 2017.” — NM

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Published 06-06-2018 by Nick Monjo