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Tag: Victorias

L Brands to close 250 Victoria’s Secret stores

Dive Brief: With almost all stores temporarily closed since March 17 due to the COVID-19 pandemic, L Brands said Wednesday that first quarter net sales fell 37% to $1.65 billion from $2.63 billion a year ago. The company will close 250 Victoria’s Secret stores it owns in North America “over the next few months,” executives said …

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J. Crew taps former Victoria’s Secret exec as CEO

J. Crew Group has ended its yearlong hunt for a new chief executive. The retailer announced that “after a thoughtful and extensive search” it has appointed Jan Singer to serve as CEO, effective Feb. 2, 2020. Singer, who most recently served as CEO of Victoria’s Secret, will also join J. Crew’s board and assume responsibility …

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Analysis: Radical change needed to get Victoria’s Secret back on track

By Neil Saunders, managing director of GlobalData Retail – 01/09/2020 Get great content like this right in your inbox. Subscribe Overall, this was not a happy holiday for L Brands. Off the back of a flat holiday performance last year, group comparable sales fell by 4%. The underlying results, however, continue to point to a …

Analysis: Radical change needed to get Victoria’s Secret back on trackRead More

L Brands lowers guidance as Victoria’s Secret drags down holiday performance

Get great content like this right in your inbox. Subscribe L Brands’ sales fell in the crucial holiday shopping season amid the ongoing decline of its signature Victoria’s Secret brand.  The company reported net sales of $3.9 billion for the nine weeks ended Jan. 4, 2020, compared to net sales of approximately $4.1 billion in …

L Brands lowers guidance as Victoria’s Secret drags down holiday performanceRead More

Analysis: Radical change needed to get Victoria’s Secret back on track

By Neil Saunders, managing director of GlobalData Retail – 01/09/2020 Get great content like this right in your inbox. Subscribe Overall, this was not a happy holiday for L Brands. Off the back of a flat holiday performance last year, group comparable sales fell by 4%. The underlying results, however, continue to point to a …

Analysis: Radical change needed to get Victoria’s Secret back on trackRead More

Victoria’s Secret, JC Penney among retailers closing stores in 2020

Billy H.C. Kwok | Bloomberg | Getty Images The retail apocalypse hasn’t shown a lot of mercy. Year to date nearly 10,000 stores have announced closures, according to Kevin Cody, senior consultant with CoStar Portfolio Strategy. That’s an all-time high, and its a serious blow to the job market in the retail sector. Since reaching …

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L Brands shares rally despite continued sales declines at Victoria’s Secret

People walk past a Victoria’s Secret store in Barcelona. John Milner | LightRocket | Getty Images Victoria’s Secret has yet to stem its sales declines, but the company is hopeful that new products will win back customers. The brand is pursuing “more elevated product — more glamour, more fashion, a lot of emotional content,” said …

L Brands shares rally despite continued sales declines at Victoria’s SecretRead More

L Brands’ Q3 loss widens as Victoria’s Secret continues to fall

Get great content like this right in your inbox. Subscribe L Brands reported a steep loss for its Q3 as sales continued to fall at its troubled Victoria’s Secret division. The retailer’s net loss totaled $252 million, or 91 cents a share, in the quarter ended Nov.2, compared with a loss of $43 million, or 16 …

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The head of stores at Victoria’s Secret to step down, as layoffs mount

Pedestrians walk past a Victoria’s Secret LLC store, a subsidiary of L Brands Inc., in New York. Craig Warga | Bloomberg | Getty Images As L Brands’ Victoria’s Secret lingerie brand tries to right the ship, facing a sales slump, the company has laid off dozens of people at its home office this week. In …

The head of stores at Victoria’s Secret to step down, as layoffs mountRead More

Report: Victoria’s Secret store ops head to leave

Get great content like this right in your inbox. Subscribe A 17-year veteran Victoria’s Secret executive is reportedly resigning. According to CNBC, a spokesperson for Victoria’s Secret parent company L Brands has confirmed that April Holt, VP of stores and store operations, is stepping down from her position. No reason for her imminent departure has …

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