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L Brands' net sales fall 5% in May

L Brands Inc. said June 1 that its net sales declined 5% year on year to $774.3 million in the four weeks ended May 27, compared to $816.6 million in the four weeks ended May 28, 2016.

The company's comparable sales, including direct sales and those through company-owned stores, decreased 7% year on year during the four weeks ended May 27.

The women's apparel specialty retailer said its withdrawal from the swim and apparel categories, lowered total company comparable sales in May by 10% and those of Victoria's Secret by 14%.

The company's net sales for the 17 weeks ended May 27 declined 6% year on year to $3.21 billion, compared with net sales of $3.43 billion reported during the year-earlier period. Comparable sales for the 17-week period fell 9%.