Thursday, April 6, 2017
L Brands Report Seen as Reason for Hope
Stock traders are so discouraged about U.S. retail that a report from Victoria’s Secret parent company L Brands pointing to a 7 percent decline from the year before was strong enough to lift the whole sector. L Brands stock is down 28 percent from the start of the year and the news was not quite as bad as that. The L Brands report came days after trade reports from the U.S. and China showed a sharp drop in exports from China to the United States. It is a metric of significance to both countries. China is the largest supplier of manufactured goods to the United States. The United States is the largest buyer of exports from China.