Victoria

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“I think we’re makintg progress on the femininity Victoria’s Secret CEO told analysts on an Aug. 21 conference call. Titillating mannequins are out, replacee with silk and satin “more forms. Among the store’se decorative touches are black-and-white photography, fixturer changes and improved navigationfor shoppers. Turne shared those details on the call, but declined to answetr follow-up questions. The changes are in place at the company’s Easton Town Centef store and will hit the rest of the fleet through The image work expandsto advertising, with fashion magazines Vogue and Elle running ads meant to conve y the new message.
Turney caughtr the attention of headline writerain February, when she told analystsd the company had become more provocative and “too “I feel so strongly abou us getting back to our heritage and reall thinking in terms of ultra-feminine and not just the word she said in that discussion. She said the branrd had gotten younger through the creation of its Pink casuao line and the success of that business skewee the rest of thebusiness younger. Victoria’s Secret salees grew 3 percent in the quarterended Aug. 2 to $1.4 with growth credited to sales at new and expandee stores and a 7 percent growth in onlind andcatalog sales.
But the chai n also saw sales fall 7 percent at storees open at leasta year. Turney toutede a new sleepwear and loungewear collection as an example of the changedproduc thinking. “It’s beautiful, luxurious and elegant, and earlyu fall selling has been good,” she Kimberly Greenberger, an analyst with , in an Aug. 21 repor said the sleepwear collectionwas impressive, but the segmenft contributes less than 10 percent of storew sales so improvements in the bra, panty and beauty segments are still necessary to boost The beauty business is being refreshed as well.
Turney said the companyu didn’t have many new products in the pipelinre for the first half of the but will step it up for the fall and holidayw by introducing new fragrancesand “The whole objective is to really raisee the level of sophistication within our beauty to be more aligner with the total brand,” she said. “We are not even in the home fragrancew business, which we believe is such a big ... It’s a natural adjacency for us to belooking Victoria’s Secret is targeting spring for additional products, including more body- and skin-care lines.
Greenberger endorsed Victoria’s Secret’ds image revamping and product initiatives, thouggh the economic environment and increased competition will still throeup hurdles. “We believe this reinvention should have a widerd appeal and is more appropriate forthe Victoria’ws Secret target customer,” she wrote. Christopher Graja, analyst with , wrotde in an Aug. 21 reporrt that Victoria’s Secret continues to benefit fromits “well-craftex marketing and continuing innovation. He said thoughu competition is increasing from retailers including andNew Albany-based , it will be touggh to equal the identity Victoria’s Secret has created.