L Brands tops Street in September as some others disappoint

L Brands, operator of Victoria's Secret and Bath & Body Works, posted a better-than-expected 3% increase in same-store sales for September.



The retailer’s results were fueled by a 9% increase in comp sales at its Bath & Body Works brand. L Brands’ net sales rose 6% to $919.9 million in September.



The handful of other retailers who still report same-store sales did not fare so well.



Cato Corp. cuts its profit outlook for the third quarter amid a 9% decline in September same-store sales. Total sales fell 8% to $76.2 million.



"September same-store sales were well below our expectations," stated chairman, president, and CEO John Cato. "We now expect third quarter earnings per diluted share will be in the range of $.07 to $.11 versus $.30 last year and down from our previous guidance of $.13 to $.18. The decrease in earnings due to lower sales is offset by favorable adjustments to the effective tax rate as a result of continuing tax initiatives."



The Buckle also turned in a dismal performance, with a 15.5% decline in same-store sales.



Net sales for the month fell 14.8% to $82.9 million, from last year's $97.4 million.



Fred’s comparable store sales for the month decreased 4.9%.



Total sales for the month decreased 5.5% to $199.9 million.



Costco Wholesale Club reported a 1% rise in total same-store sales for September. Net sales for the month (five weeks ended Oct. 2) rose 3% to $11.06 billion.