The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The retail company, which announced plans to spin off Victoria’s Secret earlier this month, reported revenue of $3 billion for the quarter ended May 1, an over 80 percent increase from $1.65 billion last year in the midst of the Covid-19 pandemic, and up 15 percent compared to sales of $2.6 billion in the Q1 of 2019. Bath & Body Works sales increased 60 percent compared to the first quarter of 2019. Comparable sales at Victoria’s Secret increased 9 percent in 2021 from 2019.
L Brands projected second quarter sales will increase between 10 and 15 percent compared to 2019. Due to the still uncertain retail environment and upcoming separation of the Bath & Body Works and Victoria’s Secret businesses set for August 2021, the company neglected to provide earnings guidance for the full year.
Joan Kennedy is Editorial Associate at The Business of Fashion. She is based in New York and covers beauty and marketing.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.