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L Brands' July net sales decline

L Brands Inc. on Aug. 3 reported net sales of $767.7 million for four weeks ended July 29, compared to net sales of $777.0 million for the four weeks ended July 30, 2016.

Comparable sales of Victoria's Secret owner decreased 7% year over year for the four weeks ended July 29.

L Brands said the removal of its swim and apparel categories lowered total company comparable sales in July by 4 percentage points and Victoria's Secret comparable sales by 5 percentage points.

The company's net sales for the 13 weeks ended July 29 hit $2.76 billion, down from net sales of $2.89 billion for the 13 weeks ended July 30, 2016. Comparable sales also decreased 8% for the 13 weeks ended July 29.

It also reported net sales of $5.19 billion for the 26 weeks ended July 29, compared to sales of $5.50 billion for the 26 weeks ended July 30, 2016. Comparable sales for the 26-week period declined 9%.

The retailer said it expects second-quarter earnings per share at the high end of its previous guidance range of 40 to 45 cents per share.