The drop represents the fifth consecutive month in declining sales for the Victoria's Secret parent company. L Brands reported net sales of $774.3 million in May and a 7% decrease in comparable sales for the same period.
Following the departure of Catherine Lewis-Beaudoin, the American e-commerce giant has announced that it will entrust the leadership of its fashion division to Christine Beauchamp, a former Ralph Lauren exec.
L Brands first quarter results exceeded expectations, reporting earnings per share of $0.33 despite falling from $0.52 in the prior year's first quarter. The company increased its earnings expectation for the year.
Amazon topped the list of Engagement Labs' TotalSocial ranking for its online brand sharing performance and offline reputation. Nike, Nordstrom, Victoria's Secret, Adidas and Under Armour also topped the list.