 "Victoria's Secret logo (Photo source: Twitter)")
Victoria’s Secret has a problem and it’s not much of a secret: athleisure is upending the bra business.
Growth is slowing in the retailer’s core bra business, which accounts for about 35% of sales at its parent company, L Brands Inc., as shoppers seek comfort instead of flash from their undergarments. In the first quarter, the retailer said bra sales rose less than 10%, down from growth rates in the mid-teens in prior quarters. Shares of L Brands have tumbled 29% so far this year.
“It’s not a sick business but it’s not growing at the rate we
Growth is slowing in the retailer’s core bra business, which accounts for about 35% of sales at its parent company, L Brands Inc., as shoppers seek comfort instead of flash from their undergarments. In the first quarter, the retailer said bra sales rose less than 10%, down from growth rates in the mid-teens in prior quarters. Shares of L Brands have tumbled 29% so far this year.
“It’s not a sick business but it’s not growing at the rate we
