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Victoria's Secret moves away from apparel: Report

Victoria's Secret Limited Brands
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Victoria's Secret is pumping the brakes on its struggling apparel category, removing most of its inventory in areas such as outerwear and denim, according to a report by Women's Wear Daily.

According to the report, L Brands CEO Les Wexner announced the change internally on Tuesday. The company is expected to offer more details following its May earnings report.

Victoria's Secret has been focusing on its core merchandise offerings, such as bras and panties, as its same-store sales—particularly in the apparel category—have been under pressure. On Thursday, L Brands announced a same-store sales decline of 1 percent for March, including a 1 percent decline at Victoria's Secret.

According to the WWD report, the collegiate-focused Pink merchandise will not be impacted by the changes.

To read the full report from Women's Wear Daily, click here.

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