UBS analysts think March signaled progress for a return to growth at Victoria’s Secret.
Data reviewed by analysts at UBS indicates that Victoria’s Secret could be showing signs of “modest” progress, after a less-promotional March, the relaunch of its swim business, and other factors.
“The [swim] assortment is limited, but Victoria’s Secret did put advertising around it,” UBS wrote in a note. While not a tremendous moneymaker, analysts saw the swim business as a way for Victoria’s Secret to capture seasonal shoppers.“In our view, Victoria’s Secret competitive advantage in swim stemmed from a differentiated assortment at compelling price points and great fit – these have all potentially changed,” Meyer wrote in an April 1 note.
Instinet analysts led by Simeon Siegel also questioned the strategy of relying on third-party brands for the swim relaunch.
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