L Brands, owner of La Senza, had announced last year their intention to open six new stores in the USA in 2014 reportedly cancelled the expansion last week. The reason stated was that the Canadian chain’s business had reported disappointing results in the last quarter. The fourth quarter results of L Brands (which also covers the performance of Victoria’s Secret) showed net sales were flat at US$489.6 million.
Full year results for the entire operations of L Brands showed sales of US$ 1.743 billion which represents a rise of 5%.
