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Stock impact report

Struggling Victoria's Secret Returns to Traditional Fashion Show [BNN Bloomberg (Canada)]

Victorias Secret & Co. (VSCO) 
Company Research Source: BNN Bloomberg
The biggest US lingerie retailer is returning to a more traditional version of its fashion show this fall, complete with models sporting angel wings, the company said Wednesday in a post on Instagram. Last year, the company tried a new take on the show — a streamed feature-length film on Amazon.com Inc.'s Prime Video titled The Victoria's Secret World Tour. The annual show, which was a longstanding tradition beginning in 1995, was halted in 2019 when former chief Les Wexner said the company “decided to rethink” the event. The runway show faced criticisms that it fell short on diversity and female empowerment. Reynoldsburg, Ohio-based Victoria's Secret's sales have struggled in recent years. In March, the company's full-year guidance fell short of analysts' estimates and its shares dropped the most since its July 2021 initial public offering. The stock was down 2.2% in New York trading at 12:24 p.m. Wednesday, having skidded 17% this year through Tuesday. ©2024 Bloomberg L.P Show less Read more
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