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L Brands' net sales grow 1% in September

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L Brands' net sales grow 1% in September

L Brands Inc. reported a 1% increase in net sales for the five-week period ended Sept. 30. Sales totaled $981.6 million, compared to sales of $971.4 million for the five weeks ended Oct. 1, 2016.

The company said hurricanes in September negatively affected the company's total sales by about 1 percentage point.

Comparable sales of the women's specialty apparel retailer decreased 2% for the five-week period, L Brands said.

The retailer said its exit from the swim and apparel categories lowered comparable sales by 2 percentage points for the company and 3 percentage points for Victoria's Secret brand.

L Brands' net sales for the 35 weeks ended Sept. 30 dropped 4% to $7.02 billion from $7.33 billion in the 35 weeks ended Oct. 1, 2016. Comparable sales during the 35-week period dropped by 7%.