Victoria's Secret announced that it is closing 53 stores in North America this year.
It lived up to expectations. Out first impression was good – the store was well organized and the inventory was neatly laid out. However, it wouldn't take much for this to descend into chaos; piles of inventory are a recipe for disaster in busier times.This was surprising. In the company's third-quarter earnings call in November, CFO Stuart Burgdoerfer said that these bras along with its Angels collection had seen weaker sales, which he blamed on lack on innovation with the bra.
One analyst said he believed its sister brand Pink was on the"In a call with investors on Thursday, Burgdoerfer addressed this problem but said that it will"take a while" to reduce promotional levels.As well as scaling back on promotions, Burgdoerfer said the company is looking at all aspects of the marketing of the brand."We are taking a fresh, hard look at everything," he said."Everything is on the table.
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