Shares of the owner of Victoria's Secret, Bath & Bodyworks and Pink dropped 4.4% on Thursday.
L Brands said sales for the five-week period ended Jan. 5, totaled $2.48 billion, down from $2.52 billion for the comparable period a year earlier. Comparable-store sales were flat for the five weeks ended Jan. 5, vs. the five weeks ended Jan. 6, 2018.
For the full year, which it counts as 48 weeks, L Brands reported net sales of $12.46 billion vs. $11.59 billion a year ago. Comparable sales increased 3% over the same period.
Analysts had expected L Brands' quarterly net sales to rise 1.9% to $4.91 billion. For fiscal 2018, analysts had predicted year-over-year net sales growth of 5.3% to $13.3 billion.
The company expects to report adjusted fourth-quarter per share earnings toward the higher end of its previous guidance of $1.90 to $2.10, not including a preliminary estimated pretax charge, principally non-cash, related to the sale of La Senza of approximately $80 million, or 15 cents a share.
The company closed on the previously announced sale of the La Senza business to an affiliate of Regent LP earlier this month.