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…