Earnings

Victoria Secret’s parent stock falls on weak holiday sales

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Pedestrians walk past a Victoria’s Secret store, a subsidiary of L Brands, in New York.

Craig Warga | Bloomberg | Getty Images

Victoria’s Secret parent company L Brands said its holiday sales shrunk, leading the retailer to cut its earnings outlook for the fourth quarter.

The news comes on the heels of L Brands promising investors in September that an “evolution” was ahead for the embattled lingerie brand. But there weren’t many bright spots in its reports on Thursday.

To stem sales declines, L Brands has promised to use a more diverse group of models in its Victoria’s Secret marketing and advertising — that will reflect women of all shapes and sizes. It has vowed to make more trend-right…



Source cnbc.com

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