victoria's secret news and archive

L Brands holiday comparable sales improve 5 percent

L Brands, Inc. has reported net sales of 3.836 billion dollars for the nine weeks ended January 2, 2021, compared to net sales of 3.906 billion dollars for the same period ended January 4, 2020. The company said in a statement that comparable sales increased 5 percent for the period. At Bath & Body Works, comparable sales increased 17 percent,...

Jan 7, 2021

People

Raul Martinez named creative director of Victoria's Secret

Raul Martinez, the head creative director of Condé Nast, has been tapped to join Victoria’s Secret as the brand’s head creative director. Martinez will begin his new role this coming January. Martinez was known as one of the right hands to Vogue’s longtime editor-in-chief and Condé Nast’s artistic director Anna Wintour. He worked with her on her...

Dec 4, 2020

Fashion

Victoria's Secret donates Giving Tuesday profits to YWCA

Victoria's Secret is recognizing Giving Tuesday this year by honoring the YWCA. The retailer is donating 5 percent of each online order, up to 500 thousand dollars, through both its main line and its Pink line. The retailer has selected YWCA as the recipient of its donation as the organization works to eliminate racism, empower women and promote...

Dec 1, 2020

Business OPINION

Can a new CEO make Victoria's Secret relevant again?

If ever there was a brand that needed sharpening of its social listening skills it was Victoria’s Secret. Every year in November the American lingerie giant would host an extravaganza of famous models transformed into the brand’s high-heeled ‘angels’, walking a runway decked in bejewelled lingerie and feathered wings. In sharp contrast to the...

Nov 26, 2020

People

Victoria's Secret names new CEO

Victoria’s Secret parent company L Brands has named Martin Waters the brand's CEO. Waters will step into his role effective immediately. Waters will report to Stuart Burgdoerfer, interim CEO of Victoria’s Secret and CFO of L Brands. In Addition, Laura Miller has been named chief human resources officer of Victoria’s Secret, Becky Behringer has...

Nov 25, 2020

Report

L Brands swings to profit in Q3, comparable sales rise 28 percent

L Brands, Inc. reported earnings per share of 1.17 dollars for the third quarter ended October 31, 2020 compared to a loss per share of 91 cents for the quarter ended November 2, 2019. Third quarter operating income was 580.6 million dollars compared to an operating loss of 151.2 million dollars last year, and net income was 330.6 million...

Nov 19, 2020

Report

L Brands sells majority stake in Victoria’s Secret UK business to Next

L Brands, Inc. has announced a partnership with Next Plc for its company-owned Victoria’s Secret business in the United Kingdom and Ireland. Under the agreement, the company said in a statement, under the joint venture partnership, Next will acquire 51 percent stake in the Victoria’s Secret U.K. business that is currently in administration and L...

Sep 15, 2020

Management

L Brands Q2 sales drop 20 percent

Victoria’s Secret owner L Brands, Inc. has reported second quarter net sales of 2.319 billion dollars, a decrease of 20 percent compared to sales of 2.902 billion dollars for the quarter ended Aug. 3, 2019. The company said in a statement that its stores were closed during periods of time throughout the second quarter due to the Covid-19...

Aug 20, 2020

Report

Victoria's Secret owner L Brands to cut 850 head office jobs

Victoria’s Secret owner L Brands has announced it will be cutting around 15 percent of its head office workforce in a bid to cut costs amid the Covid-19 pandemic. The move is part of a wider strategy by L Brands which aims to deliver approximately 400 million dollars in annual cost reductions. Approximately 175 million dollars of savings are...

Aug 3, 2020

Management ANALYSIS

L Brands has a plan… And the market knows it

New York – On Wednesday, Victoria’s Secret’s parent company, L Brands, was soaring on the trading floor. The multi-brand group presented their ‘Go Forward Strategy’ to shareholders and the market has been cherishing those plans ever since. L Brands Inc (NYSE: LB) announced it sees 400 million dollars annualised cost reductions through a profit...

Jul 30, 2020

Report

Next is preferred UK franchise partner for Victoria’s Secret

Next has reportedly been selected as the preferred UK franchise partner for the UK arm of Victoria’s Secret. The British retailer has agreed to an outline deal to take over the brand, according to Sky News. But the future of its retail estate reportedly depends on whether Victoria's Secret UK's landlords will agree to restructuring its lease...

Jul 16, 2020

Report

Marks & Spencer and Next reportedly eyeing Victoria’s Secret UK arm

British retail giants Marks & Spencer and Next are reportedly both interested in taking control of the UK arm of Victoria’s Secret after its owner L Brands placed it into administration with Deloitte earlier this month. At least one other unnamed party is also interested, Sky News reported on Friday. The news came the same day that Victoria's...

Jun 27, 2020