Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.
Spring has brought about a lot of pleasant changes: warmer temperatures, flowers blooming, and…some customers warming up to Victoria’s Secret again?
The retailer, which has had a tough time lately after its full-year sales guidance fell short of analyst expectations, said its sales were picking up, despite tough competition.
Although the lingerie brand isn’t completely out of the water yet—net sales were still down 3%–4% for Q1—the losses were below analysts’ projections of a 6% decline, as online sales outperformed in-store sales, Bloomberg reported.
It’s no secret: Victoria’s Secret has struggled to regain its relevance as it attempts to rebrand itself after a decades-long history marked by the promotion of unrealistic beauty standards, sexism, and discrimination.
To distance itself from the past, the retailer has hired completely new corporate leadership, and made diversity and inclusion a big part of its branding, introducing expanded sizing, and hiring trans, Black, and plus-sized models.
And while the company has yet to fully gain back consumer trust, consistency in its messaging and branding is key.
As Erin Schmidt, an independent retail analyst, previously told Retail Brew, to make its efforts count, the brand will have to stick to “consistent and strong communication about what your new brand identity is, what your missions and values are.”