It has been 10 months since Victoria’s Secret spun off from L Brands and revamped its brand to be more women-centric. While the message is starting to resonate with consumers and Wall Street analysts, it is taking longer to reach investors.
Victoria’s Secret said on Tuesday that its total revenue declined 4.5% in the quarter ended April 30, at the high end of its own guidance and better than the 5.2% decline analysts polled by Visible Alpha expected. Chief Executive Officer Martin Waters said on a call with analysts on Wednesday that bras and beauty sales gained good momentum, as did international business as countries recovered from Covid-related restrictions.
