Victoria’s Secret Swings to 3Q Loss Amid Sinking Sales

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Victoria’s Secret posted its second-consecutive quarterly loss as it faces a continued slump in sales.

The Reynoldsburg, Ohio-based lingerie, clothing and beauty retailer posted a loss of $71.2 million, or 92 cents a share, in the quarter ended Oct. 28, compared with a profit of $24.4 million, or 29 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 79 cents.

Stripping out certain one-time items, the company reported an adjusted per-share loss of 86 cents, wider than the 78 cent-loss forecast by analysts, according to FactSet.

Revenue fell 4%, to $1.27 billion, roughly in line with the expectations of analysts polled by FactSet.

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