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L Brands tumbles after weak sales at 'broken' brand Victoria's Secret

Gillian Brassil

Same-store sales for L Brands declined 1 percent in June despite an extended semi-annual sale. L Brands LB shares tumbled on Tuesday after the company announced weak sales in its Victoria's Secret stores for last month. L Brands said same-store sales for Victoria's Secret — a key measure followed by retailers — fell 1 percent in June despite an extended semi-annual sale.