Defying expectations amidst heightened promotional activity and stiff competition, Victoria’s Secret & Co recorded an upsurge in sales during the quarter ended May 4. The brand’s net sales dipped by only 3 per cent during the quarter against the anticipated 6 per cent. Online sales notably surpassed brick-and-mortar results.

The lingerie giant has been contending with declining sales over the past couple of years. In efforts to attract customers and revitalise its image, the brand revamped its fashion show, and also expanded its swim and apparel offerings. Its new products received positive response from customers, affirms Martin Waters, CEO, indicating improving sales trends for both Victoria’s Secret and its PINK line.

However, marked by heightened discounting and intensified competition, the brand may continue to face challenges in the North American market, warns Waters. Also, despite the encouraging quarter, the company maintained its full-year guidance unchanged, acknowledging the ongoing complexities of the market.