L Brands key revenue figure up 2 pct in August

Published on NewsOK Modified: September 5, 2013 at 7:15 am •  Published: September 5, 2013

COLUMBUS, Ohio (AP) — L Brands, which owns Victoria's Secret as well as Bath and Body Works, said Thursday its August revenue at stores open at least a year rose 2 percent, falling slightly short of Wall Street predictions.

Analysts polled by Thomson Reuters expected a 2.2 percent increase for the four weeks ended Aug 31. The metric is a key measure of a retailer's health, because it excludes revenue at stores that recently opened and closed.

The increase included 3 percent growth at Victoria's Secret stores and a 1 percent increase at Bath and Body Works stores.

Total sales for the month rose 6 percent to $704.7 million from $665.6 million.

For the 30 weeks ended Aug 31, total sales rose 5 percent to $5.49 billion.

The company said it expects a "low single-digit" increase in September revenue at stores open at least a year.

Columbus, Ohio-based L Brands also owns the brands Pink, Henri Bendel and La Senza. It has 2,637 stores in the U.S. and its brands are sold in more than 800 company-run and franchised locations worldwide.