On Tuesday, April 8, the popular clothing brand Victoria’s Secret announced that they will be cutting down their inventory and no longer selling a portion of their clothing items.
Through Women’s Wear Daily, Leslie H. Wexner, who is the chairman and CEO of the Victoria’s Secrets parent company, L. Brands Inc., released that the apparel collections at Victoria’s Secret will be cut.
Some of the items that have been chosen to be cut, according to E! News, includes denim, some dresses, outerwear and woven apparel.
According to CNBC, L Brand stated a same-store sales decline on Thursday, April 10, of 1 percent for March, including a 1 percent decline for Victoria’s Secret.
However, the Victoria’s Secret brand, Pink collection will not be affected by the cuts. Additionally, the intimates and lingerie at Victoria’s Secret will still be made for purchase.
According to CNBC, the company is expected to reveal more information after its May earnings report.
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