L Brands Has Fallen the Most among S&P 500 Stocks This Year

Falling sales and profitability for L Brands’s (LB) Victoria’s Secret line have pulled down the company’s sales comps and margins over the past several quarters. The operating margin of Victoria’s Secret fell 290 basis points during fiscal 2017 and another 520 basis points during the first quarter of 2018. The contracting margins have resulted in falling investor confidence and have kept the company’s stock price in the red almost throughout the year.