L Brands Key Sales Metric Climbs 3 Percent

COLUMBUS, United States — L Brands, owner of Victoria's Secret and Bath & Body Works, said Thursday that sales at stores open at least a year rose 3 percent in May, which is better than most projections.

Wall Street was looking for a 2.3 percent increase, according to a Thomson Reuters survey.

Sales at stores open at least a year is a key indicator of a retailer's health because it excludes the volatility of stores recently opened or closed.

Total revenue for the month climbed 4 percent to $763.6 million.

For the 17 weeks ended May 31, sales at stores open at least a year rose 2 percent. Total revenue increased 5 percent to $3.16 billion.

L Brands Inc., based in Columbus, runs 2,928 stores in the U.S., Canada and U.K. Its other brands include Pink, La Senza and Henri Bendel.

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