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April was unusual for L Brands


L Brands turned in a disappointing sales performance in April, a rarity for a chain that has turned in consistently strong monthly results.

The parent company of Victoria’s Secret reported a 1% increase in same-store sales, below Wall Street expectations of a 4.8% gain.

Sales for the month increased to $737.5 million, up from $724.6 million in the same month last year.

The company’s Bath & Body Works division saw a 5% increase in same-store sales while Victoria's Secret posted a 1% decrease.

"Strength in the Pink business was offset by softness in core lingerie and beauty," said Amie Preston, chief investor relations officer, L Brands, on a conference call.

In April, L Brands announced it would restructure Victoria’s Secret to streamline operations and focus more on its core offerings. The division is being reorganized into three units: Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty.

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