Don’t Ask, Don’t Tell
Victoria’s Secret’s secret is well kept as company officials shied away from commenting on a recent news account that the lingerie cataloger cut circulation by 30% beginning in August.
The decision, reportedly prompted by investor concerns, was designed to “boost the profitability” of the catalog, “cut marketing costs” and “re-energize thestock” (off approximately 30% since the spring) of parent company Intimate Brands, according to a late-September article in the New York Post.
A spokesperson for Columbus, OH-based Intimate Brands acknowledged the cutbacks but declined to comment, saying “we are just not addressing this issue because there really is nothing to address.” She added that the company is mailing “fewer and better books to the same number of people.”
Victoria’s Secret’s circulation cut is expected to result in a 10% drop in sales for the third quarter ended Oct. 31, the article said.
