Victoria's Secret Sales Rise Amid Store Closures

Victoria's Secret is navigating a period of retail transformation, having closed 38 stores globally between January 31 and August 31, while simultaneously opening 48 new locations. This strategic adjustment has not hindered its financial performance, with CEO Hillary Super reporting a 10% increase in net sales year-over-year for the second quarter. The company has also seen its operating income and earnings per share exceed guidance, marking the fifth consecutive quarter of positive comparable store sales.

The brand's resurgence is partly attributed to its increasing appeal to Generation Z. Super highlighted gains in bra sales, the Pink collection, and beauty items, noting significant new customer growth among 18- to 24-year-olds. This focus on younger consumers follows a period of declining sales in the late 2010s, influenced by increased competition, cultural shifts like the #MeToo movement, and the cancellation of its fashion show.

In an effort to connect with Gen Z, Victoria's Secret revived its fashion show in 2024 with a more inclusive approach and has collaborated with popular celebrities and influencers like Sabrina Carpenter and Angel Reese. The brand has also embraced digital platforms, launching its first TikTok Live event during its Pink Friday sales. These initiatives underscore the brand's commitment to evolving its image and marketing strategies.