We visited Victoria's Secret and saw why analysts say its teen brand is on 'the precipice of collapse'
We visited a Victoria's Secret store in Downtown Manhattan, which has a separate PINK section.
The promotions were mostly on core products, such as underwear. This was confusing given that in the company's fourth-quarter earnings results, Landman said that intimates, specifically bras and panties, drove the strongest growth for the brand.
Landman said the "Wear Everywhere" collection and sports bras were key sellers during the quarter. Despite this, these bras were all on sale for $20.
The discounts hadn't hit the sportswear section, however. These track pants were being sold for $49.95.
But all panties were on sale at five for $28 or $10.50 each.
Since its sister brand Victoria's Secret axed its swimwear line in May 2016, PINK is the company's only brand to offer swimwear. However, customers don't seem to be biting, as all swimwear was being sold for 40% off.
Major discounts are usually a sign that retailers are trying to clear inventory. In this case, it seemed like the store was trying to get rid of styles that didn't take off. Classic bralette styles were not on sale.
During the fourth quarter, "apparel had areas of success and disappointment," Landman told investors in February.
The promotions would suggest that the store's leisurewear clothing has been less successful than its sportswear.
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