Victoria's Secret Angels Soar on Wall Street

"Based on the third-quarter results, we're ahead of where we thought we would be," Stuart Burgdoerfer, executive vice president and chief financial officer of L Brands, and interim chief executive officer of Victoria's Secret NewCo, told analysts on Thursday morning's confer...

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Bibliographic Details
Published in:WWD 2020-11, p.6-6
Main Author: Ell, Kellie
Format: Article
Language:English
Subjects:
Capital markets
Chief executive officers
Consumers
Corporate profits
Lingerie
Pandemics
Profitability
Sales
Stock prices
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Summary:"Based on the third-quarter results, we're ahead of where we thought we would be," Stuart Burgdoerfer, executive vice president and chief financial officer of L Brands, and interim chief executive officer of Victoria's Secret NewCo, told analysts on Thursday morning's conference call. Ike Boruchow, senior retail analyst at Wells Fargo, added in his own note, "Simply put, [Bath & Body Works] just delivered one of the strongest quarters we've ever seen, while VS also managed to pull-off a material comp/profit beat and appears to be back on track. "Since 2016, VS has made several strategic changes intended to strengthen the business that have yet to show positive results, while their younger sub-brand Pink began to struggle more recently in 2018," Boruchow continued. [...]operating] income at the business has decreased approximately 90 percent since 2015.
ISSN:0149-5380