The “Path to Potential” plan is paying off for Victoria’s Secret: after a strong third quarter, the lingerie chain is raising its outlook for its full fiscal year.
Better than expected
In the quarter ending 1 November, Victoria’s Secret sales rose 9 % to 1.472 billion dollars (1.35 billion euros), which was better than previously expected. More importantly, the chain managed to get its adjusted operating result out of the negative figures, which is a welcome surprise because the company was previously expecting a loss of 35 to 55 million dollars (32 to 51 million euros). The net loss amounted to 37 million dollars (€34 million euros), compared to 56 million dollars in the same period last year.
