L Brands, Other Mall Retailer Stocks Rising on March Sales Figures

Earlier Thursday, Victoria's Secret parent L Brands (LB) announced a 10% year-over-year decline in its March same-store-sale, however the stock is getting a boost as the company said the later Easter holiday accounted for about 3 percentage points of that dip.

This had some hoping that the dropping sales in the brick and mortar retail space is hitting a floor, Reuters reports.

"Sentiment was so negative and L Brands was a perfect example," Kelly Halsor of Buckingham Research said, Reuters added. "People were thinking it would be much worse."

L Brands stock was rising by 9.7% to $47.28 on Thursday afternoon. Several other mall based retail companies including Ann Inc., (ANN) Chico's, (CHS) and New York & Company (NWY) were also gaining.

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