By Patrick Thomas
L Brands Inc.'s revenue fell in its latest quarter as sales at the retailer's embattled flagship Victoria's Secret chain declined further.
The Columbus, Ohio-based retailer reported net sales of $2.9 billion for its second quarter, compared with $2.98 billion a year earlier. Analysts polled by FactSet predicted $2.95 billion in revenue.
Comparable sales, which include digital and same-store sales, decreased 1% from the same period a year earlier.
Victoria's Secret sales fell 7% to $1.61 billion from a year earlier, below the $1.67 billion in sales analysts were expecting.
Overall, L Brands, which also owns Bath & Body Works, posted a profit of $37.6 million, or 14 cents a share, compared with $99 million, or 36 cents a share, a year ago.
The company reported adjusted earnings of 24 cents a share. Analysts polled by FactSet were expecting earnings of 20 cents a share, or 20 cents a share on an adjusted basis.
Shares of L Brands ticked up about 1% during aftermarket trading. The company reaffirmed its adjusted earnings outlook for the year of between $2.30 and $2.60 a share.
The founder and chief executive of L Brands, Leslie Wexner, has come under increased scrutiny in recent months for his ties to Jeffrey Epstein, the disgraced financier who was indicted on federal sex-trafficking charges stemming from an alleged scheme to exploit underage girls.
Mr. Epstein was Mr. Wexner's personal money manager for about two decades. Mr. Epstein had pleaded not guilty in the case. He was found dead in a Manhattan jail cell Aug. 10, while awaiting trial. A medical examiner determined the cause of death was suicide.
Mr. Wexner said this month that his former money manager misappropriated more than $46 million of his fortune, revealing for the first time some of the financial fallout from their relationship.
L Brands' board of directors has also hired an outside law firm to conduct a review of Mr. Epstein's role at the company.
Meanwhile, L Brands said earlier this month that its longtime chief marketing officer, Edward Razek, will step down from his role, as the parent company of Victoria's Secret faces backlash from consumers about the unit's marketing strategy.
Write to Patrick Thomas at Patrick.Thomas@wsj.com