Consumer
Victoria’s Secret Jumps as Sales Decline Moderates
Shoppers in Victoria's Secret store in Montreal, Quebec, Canada.
Photographer: Christinne Muschi/BloombergVictoria’s Secret & Co. said sales have improved despite more promotions and tough competition.
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections. Net sales were down 3% to 4% in the period, compared with an expected decline of as much as 6%. The company said online sales are outpacing in-store results.