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Victoria’s Secret can’t even sell its merchandise at a discount

Victoria’s Secret had trouble selling merchandise in the month of June, even when it was at a discount.

Same-store sales at the retail chain were down 1% for the month, with increases in the beauty segment offset by declines in lingerie and the Pink brand.

“Semiannual sale had a soft start with negative traffic level,” said Amie Preston, chief investor relations officer for L Brands Inc. LB, -1.95% on the pre-recorded monthly sales call, according to a FactSet transcript. Victoria’s Secret is part of the L Brands portfolio.

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