Wei Ming Continued Weak In May, Parent Company L Brands Shop Zero Growth

American underwear giant L Brands Inc. announced in May before today's US stock market.

According to the data, the Memorial Day holiday of the United States was later influenced by the year's performance.

Up to the first four weeks of May 28th, the group's same store sales could only be flat in the same period last year, and this year's Memorial Day was in May 30th. Last year, sales in the same week in the first four weeks as of May 30th increased by 4%.

Same store sales

The performance of zero growth has been better than that of the group in the middle of 5 months.

Net sales rose 2.2% to $816 million 600 thousand compared to the same period last year, compared with $799 million 100 thousand last year.

During the period, the secret of Victoria "s Secret" Vitoria continued to be weak, and the same store sales fell by 1%, a 3% rise over the same period last year, mainly due to poor performance of beauty and core underwear bra products, and the continued growth of girls' PINK line.

The group is currently targeting Victoria s Secret, Vitoria, which is at a disadvantage.

The restructuring is not only aimed at cutting off swimwear categories of $525 million a year, but also hiring three experienced departments of underwear, beauty and PINK.

L Brands Inc. is also working to strengthen its overseas business. In April, it bought all 26 Victoria 's Secret, Vitoria's secret stores from the Chinese agents and will be converted to direct stores.

The group said it has set up a management team in Shanghai to promote the establishment of flagship stores, shopping malls and stores in Shanghai and Beijing, which sell Victoria, s, Secret, and Vitoria's Secret products.

In the first quarter, the group has invested $4 million in China's business, and will accelerate investment in the two quarter. However, the Group expects that China's business growth will slow down during the pition period.

As for the group's other major brand, Bath & Body Works grew by 3% in May, but the increase was only 6% of that in the same period last year.

The Group expects the three day holiday of Memorial Day (May 28-30) will have a positive effect on the current sales in June, and the same store sales will have a low single digit increase.

L Brands Inc. (NYSE:LB) shares rose by about 2.1% before Thursday's session.

The stock closed at $68.42 on Wednesday, up 0.69% all day.

The secret of Victoria 's Secret Vitoria has been dragging down its overall performance in recent months, resulting in the group having to cut its full year forecast. L Brands Inc. (NYSE:LB) has fallen by 29 since 2016.