Victoria’s Secret brand CEO Amy Hauk has resigned. The brand has struggled in recent years as some customers have rejected its marketing replete with supermodels and Angels fashion shows and switched to niche bra brands. Its clothing has gone out of fashion among some longtime buyers. The company overhauled its advertising, began using a broader range of models and ended its Angels fashion show. The company also bought rival Adore Me.

But Victoria’s Secret sales have been uneven since the start of the pandemic. Sales tumbled in 2020 during the peak of Covid but bounced back in 2021. They are projected to fall by up to seven per cent this year.Victoria’s Secret revenues for the third quarter fell nine per cent. Comparable sales for the third quarter decreased 11 per cent compared to the third quarter of 2021.International revenues were up 43 per cent.

After nearly a year and a half as an independent, publicly-traded company, the company continues to make significant progress in its transformation and mission to celebrate and champion all women. It has created a solid financial platform with a new, more agile operating structure, and even in a very challenging macroeconomic environment was able to deliver third quarter operating income and earnings per diluted share results above the previous guidance.