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On Tuesday, April 8, the popular clothing retailer Victoria’s Secret announced that it will be cutting down its inventory and no longer selling a portion of its clothing items.
Through Women’s Wear Daily, Leslie H. Wexner, who is the chairman and CEO of the Victoria’s Secret parent company, L. Brands Inc., released a statement saying that the apparel collections at Victoria’s Secret will be cut.
Some of the items that have been chosen to be cut, according to E! News, include denim, some dresses, outerwear and woven apparel.
According to CNBC, L. Brands reported a same-store sales decline on Thursday, April 10, of 1 percent for March, including a 1 percent decline for Victoria’s Secret.
However, the Victoria’s Secret Pink collection will not be affected by the cuts. Additionally, the intimates and lingerie at Victoria’s Secret will still be available for purchase.
According to CNBC, the company is expected to reveal more information after its May earnings report.