×
1 625
Fashion Jobs
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Southampton - 21 Hours - Part Time, Permanent
Permanent · Southampton
ESTÉE LAUDER
Clinique - Consultant - Boots, Horsham - 13 Hours - Part Time, Permanent
Permanent · Horsham
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Glasgow - 11 Hours - Part Time, Permanent
Permanent · Glasgow
SHISEIDO
Bareminerals Account Manager - Boots, Aberdeen (30 Hours)
Permanent · Aberdeen
SHISEIDO
Laura Mercier Account Manager - Fenwick, Brent Cross (37.5 Hours)
Permanent · London
SHISEIDO
Laura Mercier Account Manager - John Lewis, Kingston (37.5 Hours)
Permanent · Grand Londres
SHISEIDO
Laura Mercier Account Manager - John Lewis, Reading (37.5 Hours)
Permanent · Reading
ESTÉE LAUDER
Global Consumer Marketing Manager jo Malone London
Permanent · London
ESTÉE LAUDER
la Mer - Business Manager - Fenwick, Bracknell - 24 Hours / 4 Days - Part-Time Permanent
Permanent · Bracknell
MARSHALLS
71 Retail lp Detective
Permanent · Los Angeles
LINDA FARROW
Optical Key Account Manager
Permanent · LONDON
LINDA FARROW
After Sales Executive (German And French Speaking)
Permanent · LONDON
LINDA FARROW
Trade Marketing Manager
Permanent · LONDON
SHISEIDO
Bareminerals Account Manager - Boots Bracknell (37.5 Hours)
Permanent · Bracknell
SHISEIDO
Bareminerals Account Manager - Boots Stratford (37.5 Hours)
Permanent · London
SHISEIDO
Nars Business Manager - Fenwick Newcastle (37.5 Hours)
Permanent · Newcastle upon Tyne
SHISEIDO
Account Manager - Boots Hammersmith (22.5 Hours)
Permanent · London
GUCCI LIMITED
Gucci Stock Manager
Permanent · LONDON
NIKE
Purpose Marketing Manager, London
Permanent · London
NIKE
Agile Marketing Manager, London
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Edinburgh, John Lewis- 37 Hours - Full-Time, Permanent
Permanent · Edinburgh
Published
Nov 21, 2019
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

L Brands posts widening losses, confirms cancellation of Victoria’s Secret Fashion Show

Published
Nov 21, 2019

Columbus, Ohio-based fashion retailer L Brands, Inc. announced declining sales and widening losses for the third quarter on Wednesday, and has now confirmed that this year’s Victoria’s Secret Fashion Show will not be taking place.


Bella Hadid at last year's Victoria's Secret Fashion Show - © PixelFormula

 
For the third quarter ended November 2, 2019, the company reported net sales of $2.68 billion, down 3.5% from $2.78 billion in the prior-year period.
 
Overall comparable sales fell 2%, reflecting a decline of 7% in comps at Victoria’s Secret, partially offset by a 9% rise at Bath & Body Works, the consistent bright spot in L Brands’ portfolio.

The company’s third-quarter net loss totaled $252.0 million, or $0.91 per share, compared to a net loss of $42.8 million, or $0.16 per share, in the same period in the previous year.
 
At this point, Victoria’s Secret’s continued underperfomance comes as no surprise, having become a fixture of L Brands’ quarterly results over the last two years. The super sexy lingerie brand has been struggling to reinvent itself for an intimates industry that increasingly values comfort and body positivity, giving rise to the likes of Honey Birdette, ThirdLove and Rihanna’s Savage x Fenty.
 
In line with these efforts, it was revealed in an earnings call cited by Seeking Alpha that, following months of speculation, the annual Victoria’s Secret Fashion Show has indeed been canceled this year.
 
“We’ll be communicating to customers, but nothing that I would say is similar in magnitude to the fashion show,” said L Brands EVP and CFO Stuart Burgdoerfer, when discussing marketing plans for Victoria’s Secret over the holiday period.
 
“We think it’s important to evolve the marketing of Victoria’s Secret,” he went on to say by way of explanation.
 
Once a buzzy media spectacle, the fashion show has been steadily losing viewers over recent years, and even became a source of controversy last summer when Ed Razek, Victoria’s Secret’s former chief marketing officer, said that the label wouldn’t feature transgender models at the event “because the show is a fantasy” in an interview with Vogue.
 
As it attempts to boost its image in the public eye, the brand has since hired its first trans model, Valentina Sampaio, in direct and deliberate contrast to Razek’s controversial remarks.

More recently, supermodel Bella Hadid, who has walked the fashion show three times, appeared to take a shot at the event during this November’s Vogue Fashion Festival in Paris, saying in an interview that she had “never felt powerful” modeling lingerie in a runway show before taking part in the Savage x Fenty catwalk at New York Fashion Week earlier this year.
 
According to Burgdoerfer, the decision to forego this year’s fashion show is not expected to have a significant effect on Victoria’s Secret’s financial performance.
 
“As timing over the years shifted in terms of the airing the fashion show, did we see specific material impact in terms of a short-term sales response to the airing of the fashion show? As a general matter, the answer to that question is no,” he stated.
 
Year to date, L Brands’ net sales totaled $8.21 billion, down from $8.38 billion in the first three quarters of fiscal 2018.
 
Looking forward, L Brands announced that it expects to see fourth quarter-earnings per share of around $2.00, with full-year adjusted earnings per share coming to about $2.40.
 
Despite its declining sales and deepening losses, the positive outlook was enough to send shares in the company up almost 5% in the extended session on Wednesday.

Copyright © 2021 FashionNetwork.com All rights reserved.