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U.S. Retailers L Brands, Stein Mart Post Sales Increases for June

Several U.S. apparel retailers are reporting sales increases for the month of June.

Several U.S. apparel retailers are reporting sales increases for the month of June. Victoria's Secret parent L Brands (LB) reported net sales that rose 3% to about $1.2 billion. Comparable store sales also increased 3%, narrowly missing analyst expectations for a 3.4% rise, according to Thomson Reuters. The company's results were driven by Bath & Body Works June comparable sales that rose 6% on a strong response to the chain's semi-annual sale. Victoria's Secret comparable sales rose just 1%, down from 3% a year ago and short of analyst estimates for a 3.6% climb. Discount retailer Stein Mart (SMRT) reported total sales for the period that rose 7.5% from June 2014 to $121.7 million. Comparable sales rose 5.8%. Stein Mart said geographically, sales across all regions were strong except the Northeast and Midwest, which were more challenged.

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