BREAKING NEWS Man killed in Lafayette police-involved shooting identified Full Story
SEVERE WX : Flood Warning View Alerts
STREAMING NOW: Watch Now
CLOSINGS: View Closings

Victoria's Secret customers are buying bras online ... and that's a problem

Victoria's Secret customers are shopping online, but it's not doing the company much good.The intimate apparel...

Posted: May 24, 2018 8:49 AM
Updated: May 24, 2018 8:49 AM

Victoria's Secret customers are shopping online, but it's not doing the company much good.

The intimate apparel chain's parent company, L Brands, reported on Wednesday that Victoria's Secret sales ticked up just 1% in the the first quarter of the year. Excluding online transactions, sales fell by 5%.

The brand, which stopped printing its catalog in 2016, has been trying to convince customers to go digital. Though the sales numbers show that it's working, it's spending a lot of money to get customers to make the transition.

L Brands slashed its earnings-per-share forecast for the rest of the year by more than 8%. First quarter profit plummeted by nearly half.

The news spooked investors. Shares of the company fell as much as 7% after the bell on Wednesday. This year, L Brand's stock has tanked 44%.

Related: Victoria's Secret owner is the S&P 500's worst stock

Still, Victoria's Secret sales performed better in the first quarter of 2018 than in the same period last year, when overall sales slumped 14%. And Bath & Body Works grew by 8% this quarter.

Victoria's Secret is facing steep competition from American Eagle Outfitters' Aerie, Gap's Love brand, and Amazon, which sells inexpensive bras and nightgowns under the Arabella brand.

- CNN's Paul R. La Monica contributed to this report.

Article Comments

West Lafayette
Clear
32° wxIcon
Hi: 36° Lo: 30°
Feels Like: 27°
Kokomo
Clear
31° wxIcon
Hi: 34° Lo: 28°
Feels Like: 22°
Rensselaer
Clear
32° wxIcon
Hi: 35° Lo: 29°
Feels Like: 24°
Fowler
Clear
32° wxIcon
Hi: 34° Lo: 28°
Feels Like: 24°
Williamsport
Clear
33° wxIcon
Hi: 36° Lo: 29°
Feels Like: 25°
Crawfordsville
Clear
30° wxIcon
Hi: 35° Lo: 30°
Feels Like: 22°
Frankfort
Clear
34° wxIcon
Hi: 35° Lo: 29°
Feels Like: 30°
Delphi
Clear
32° wxIcon
Hi: 36° Lo: 30°
Feels Like: 25°
Monticello
Clear
32° wxIcon
Hi: 37° Lo: 29°
Feels Like: 25°
Logansport
Clear
30° wxIcon
Hi: 34° Lo: 29°
Feels Like: 24°
Snow to rain to snow.....
WLFI Radar
WLFI Temps
WLFI Planner

Community Events