Victoria’s Secret revenues for the second quarter fell by six per cent. This has been attributed to decelerated customer traffic trends across the retail environment throughout the quarter.

Among the brand’s aims are to grow market share in the key categories of bras, intimates and beauty, while being more inclusive and attract a broader customer base with more compelling storytelling in stores and on digital platforms, build a global footprint, add new brands, and build a modern, high-performing organization to deliver efficiencies and invest in people and culture. Expectations are to generate a significant cash flow to invest in growth and also return value to shareholders through a capital allocation strategy.

Third-quarter operating income and earnings per share are expected to fall at the high-end of its previously announced guidance, despite a high single-digit sale dip. The lingerie giant now estimates third-quarter operating income to be towards the high end of its previously communicated guidance range and earnings are estimated to be towards the high end of the previously communicated guidance range. The updated operating income and earnings per diluted share guidance is based on a net sales decline in the high single digit range compared to last year, which is consistent with the company’s previously communicated guidance.