Victoria’s Secret Sees Progress Despite Wider-Than-Forecast Loss
- Company is looking to add customers with bolstered marketing
- CEO says November sales show that retailer is gaining steam
Victoria’s Secret & Co. reported a larger-than-expected quarterly loss amid a rise in investment in marketing and technology, but the company said its efforts are starting to pay off.
A third-quarter loss of 86 cents a share, after excluding some items, was deeper the average analyst estimate of an 80-cent loss. Comparable sales, meanwhile, posted a seventh consecutive quarterly decline. However, the company said its sales in November are the “best monthly performance in nearly two years and further evidence that our initiatives are working.”