Shares in L Brands Inc. (LB) - Get Report fell Thursday after the retailer said net sales during the critical holiday shopping season rang in lower than last year and below analysts' expectations.

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.