Victoria's Secret said it was partnering with a new group of women, including the soccer player and activist Megan Rapinoe, to promote the brand.
The average price of lingerie and apparel on Victoria's Secret's website was up by 83% in May 2021 versus May 2019, according to UBS.
"I told Les, 'I wouldn't trust Epstein to cross the street - why are you trusting him with your money?' " one source told Vanity Fair.
According to the lawsuit, Victoria's Secret backed out of a lease on its New York store earlier this year. The lease was due to expire in 2029.
Both retailers are closing unprofitable mall-based stores and focusing on news locations.
L Brands said this month that it was abandoning plans to sell Victoria's Secret, and would instead spin off the brand, splitting its company in two.
The CFO of L Brands, which owns Victoria's Secret, told Bloomberg the lingerie giant could be valued at as much as $5 billion in a new deal.
Shares of Victoria's Secret parent company L Brands climb as the lingerie retailer raises its earnings outlook for the first quarter.
John Mehas, CEO of Victoria’s Secret Lingerie since February 2019, was replaced on Wednesday with no reason given by the company. Martin Waters, who has been with the company since 2008 will become CEO, effective immediately. 2020 has been a difficult year for Victoria’s Secret, with lawsuits and store closures […]
Retailers are bracing for a holiday shopping season unlike any other. Some, like Victoria’s Secret and Bath & Body Works parent L Brands, are warning that pandemic-related restrictions and a surge in online shopping could create some roadblocks. Many retailers are getting holiday deals going earlier than usual to avoid […]
L Brands beat Wall Street expectations on Thursday, thanks largely to the continued success of its Bath & Body Works brand which reported 13% year-over-year sales growth. The company is in the process of spinning off Victoria’s Secret, which reported a whopping decrease in year-over-year sales of 39% as the […]
Les Wexner, the billionaire founder and former CEO of L Brands, has not shared much detail about his connection to convicted sex offender Jeffrey Epstein. According to court filings in the Southern District of New York, Wexner has not turned over documents requested in a defamation case between Epstein accuser […]
L Brands, parent company of Victoria’s Secret and Bath & Body Works, is laying off about 850 people at its headquarters. The company is in the midst of separating its major brands into two standalone companies. “Decisions relating to our workforce are incredibly difficult and not taken lightly, but these […]
The UK arm of Victoria’s Secret went into administration on Friday, filing for protection from its creditors, in a move that could end up in this portion of the business being sold. Victoria’s Secret CEO said that the news would not have an impact on any of its other stores […]
L Brands Inc., the parent company of Victoria’s Secret, is being sued for records by a shareholder over the company’s alleged “toxic culture,” Bloomberg Law reported Thursday. John Giarratano filed the lawsuit in Delaware demanding the company address claims of sexual harassment among senior leaders. The lawsuit also mentions the […]
Victoria’s Secret’s CEO said Thursday that the company has managed to keep its supply chain running efficiently during the pandemic. The only items it has struggled to keep in stock are its new hand sanitizing products. Because of this, customers are now limited to buying a maximum of five of […]
Shares of Victoria’s Secret parent company L Brands plummeted 27% in Wednesday’s trading session after private equity firm Sycamore Partners signalled that it is looking to abandon its previously announced acquisition of Victoria’s Secret. L Brands announced in late February that it would sell a 55% stake in the troubled […]