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.
