Early Results From Macy's, L Brands Indicate a Less Than Happy Holidays

Both reported declines in comparable store sales

It’s a little more than a week into January, and already retailers are revealing results for the holiday shopping season that are mediocre at best.

Notably, department store banner Macy’s and retail group L Brands both reported declines in comparable store sales for November and December. Macy’s said its comparable store sales for the two months declined 0.7%, while L Brands reported a decline of 3% for the nine weeks ended Jan. 4.

L Brands, the parent of both Victoria’s Secret and Bath & Body Works, was hurt by its intimates banner, the comparable sales for which decreased 12%.

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