Posted 3/7/2024, 7:09:59 PM
Victoria's Secret Shares Plummet 30% as Sales Decline and Competition Threatens Iconic Brand's Future
- Victoria's Secret shares fell 30% on Thursday, the biggest single-day drop since its IPO in 2021
- The company reported disappointing holiday quarter results and forecast a sales decline in 2024
- Victoria's Secret still has around 20% intimate apparel market share but is losing ground to more inclusive competitors
- The company is trying new initiatives like at-home try-on and products for diverse customers, but execution remains a concern
- Victoria's Secret brought back its fashion show last year after a 4-year absence, but analysts are skeptical of the brand's turnaround prospects