Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Victoria’s Secret Falls on Weak Guidance in Faltering Turnaround

Victoria's Secret store.
Victoria’s Secret & Co. reported net sales guidance for the full year that fell short of analysts’ expectations. (Shutterstock)

Victoria’s Secret & Co. reported net sales guidance for the full year that fell short of analysts’ expectations, underscoring the retailer’s struggle to grow as it works to gain relevance with customers.

The company expects net sales of $6 billion this year, short of the average analyst estimate and weaker than last year. Victoria’s Secret has been working to acquire and retain customers through initiatives like a rebranded fashion show and the expansion of swim and apparel categories, but the efforts have yet to pay off.

The shares plunged as much as 26 percent in late trading in New York. Through Wednesday’s close, the stock had fallen 3.5 percent since the start of the year.

In the quarter ended Feb. 3, which included the crucial holiday shopping season, comparable sales at Victoria’s Secret fell 6 percent. Profitability, meanwhile, beat expectations thanks in part to better inventory management.

ADVERTISEMENT

By Olivia Rockeman

Learn more:

Why Victoria’s Secret Is Bringing Sexy Back

A much-hyped image revamp has failed to win back customers. On Thursday, the company told investors about Plan B: spruce up stores, expand into new categories and bring back a bit of the old Victoria’s Secret. As one executive put it, “sexiness can be inclusive.”

In This Article
Topics
Organisations

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.
view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.