COLUMBUS, Ohio (AP) — L Brands, which owns stores including Victoria's Secret and Bath and Body Works, said Thursday that revenue at stores open at least a year was flat in June, falling short of expectations. Shares slipped in premarket trading.
Analysts surveyed by Thomson Reuters expected a 2 percent increase.
This metric is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.
L Brands Inc., which was formerly known as Limited Brands, said Thursday that total revenue for the four weeks ended July 6 rose 2 percent to $1.1 billion from $1.08 billion in the year ago period.
For the year to date, the Columbus, Ohio, company's revenue at stores open at least a year rose 2 percent. Total revenue rose 5 percent to $3.9 billion.
L Brands also owns the brands Pink, Henri Bendel and La Senza. It has 2,616 stores in the U.S. and its brands are sold in more than 700 company-run and franchised locations worldwide.
L Brands shares slipped 61 cents, or 1.2 percent to $50 in premarket trading Thursday. Its shares peaked for the past year at $53.33 in early May.