The decline for Victoria's Secret and its Pink branch, owned by L Brands, is just beginning, according to analysts from Jefferies.
Victoria's Secret's August same-store sales dropped 5% compared to the previous year, below the 3.8% decrease expected. That was "despite heavy promotions that drove the merchandise margin down significantly YoY," a team of analysts led by Randal Konik wrote in a note sent out to clients on Thursday.. . . more