- L Brands (LB +0.1%) rode a strong month for Victoria's Secret to a rousing 6% comp in August which easily topped the 2% decline at Gap (GPS -2.2%). Gap execs pointed to the late Labor Day weekend as a factor in the tail-off, although L Brands said the magnitude of the calendar effect was only one or two percentage points.
- On a pre-recorded sales call, L Brands CIO Amy Preston noted sales gains were paced by bras and the Pink brand. She said the company expects another positive comp for September.
- Retail analysts have noted that L Brands has put out a strong back-to-school assortment.