CEO Says Victoria's Secret Brand Has Gone Too Far

Mediaweek, February 29, 2008 — IT'S NO SECRET THAT VICTORIA'S Secret is struggling. The division of Limited Brands, like so many other retailers, has been wrestling with declining foot traffic at malls, and an economy that isn't exactly sending women screaming for new dainties. This week, it announced that same-store sales in the fourth quarter fell an extremely unflattering 8%.

But for once, a retailer isn't blaming all its problems on high gas prices and a scary economy: During a conference call with investors, CEO Sharen Turney conceded that the brand has strayed too far from its roots, getting too young and too sexy, with a product assortment that just isn't tempting shoppers the way it used to.