Victoria’s Secret acquires Adore Me to restore image and return to growth

In the quarter ended 29th October, Victoria’s Secret & Co‘s sales (US$6.78 billion in 2021) fell by 9% to US$1.32 billion. Online sales fell by 11% and stores by 10%. Victoria’s Secret, which has 500 million visitors a year to its website, expects Q4 sales to fall by -5% to -9%. For the year 2022, a fall in forecasted turnover is between 6% and 7%.

However, the retail company sees two reasons to remain optimistic for 2023.
Internationally, business grew by 42.8% (year-on-year) to US$163 million i