Victoria’s Secret saw its losses deepen in the fourth quarter, but the lingerie giant expressed optimism about its turnaround efforts, pointing to gains in market share and customer satisfaction as evidence of progress..
The company, which is in the midst of a major restructuring, reported a net loss of $111.3 million for the three months ended January 28, compared with a loss of $62.4 million in the same period last year. The wider-than-expected deficit was largely due to a $63 million charge related to the closure of stores..
Despite the financial setback, Victoria’s Secret CEO John Mehas struck a positive tone on a call with analysts on Wednesday, saying that the company is making headway in its efforts to reposition itself as a more inclusive and body-positive brand..
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