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current news

Victoria’s Secret, Pink January Comps Fell 1%

Pink’s GRL PWR styles.
Pink’s GRL PWR styles.

(Filed Under wholesale Lingerie News). Victoria’s Secret and Pink January store and direct comparable sales in the U.S. and Canada fell 1%. Comparable store sales alone, for the two brands, fell 8%.

For the fourth quarter, combined comps for the two brands fell 3% in the two territories, and 2% for the full year 2018. Store sales alone fell 7% in the fourth quarter and 6% for the full year for the two lingerie brand in the U.S. and Canada.

Amie Preston, chief investor relations officer for parent company L Brands noted the falling comps were “driven by declines in lingerie and Pink.” As has been the case for most of the past three years she added, “the merchandise margin rate was down significantly to last year, driven by increased promotional activity.”

For the entire fiscal 52-week year ended February 2, 2019, total Victoria’s Secret and Pink sales in the U.S. and Canada declined slightly to $7.3749 billion compared to sales in the 53-week fiscal year ended February 3, 2018, of $7.3872 billion.

Looking ahead, Preston noted that “February will focus on Valentine’s Day in the lingerie business and the Grl Pwr campaign in the Pink business.

L Brands also provided a chart showing how it reduced the overall number of lingerie stores it operates, from 1170 to 1143, during the period between February 3rd, 2018 and February 2, 2019. It opened two and closed 29 Victoria’s Secret stores in the U.S., reducing the number to 957, while at the same time maintaining its 39 shops in Canada. During the same period it opened one Pink shop in the U.S., raising the total to 141, and closed one Pink location in Canada, reducing the total there to six.

L Brands opened two company-owned shops in its U.K. / Ireland region, raising the total to 21, while maintaining the five Pink shops it has there. In China, the company open eight full service, company-owned Victoria’s Secret stores, raising the total to 15, while at the same time opening 13 and closing four Victoria’s Secret Beauty and Accessories shops, increasing the total to 38. — NM

more wholesale Lingerie News >>

Published 02-12-2019 by Nick Monjo

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