- Victoria’s Secret & Co. held its top line mostly steady in Q1 but, according to GlobalData research, lost market share. Net sales were essentially flat to last year, nearing $1.4 billion, as comps dropped 1%.
- Gross margin shrank by 170 basis points to 35.2%, but the lingerie chain reached $2.8 million in net income, from last year’s $2.5 million net loss. The security breach that scuttled its Memorial Day sale is expected to siphon about $10 million from Q2 operating income, excluding any insurance payment, CFO Scott Sekella said Wednesday.
- Former Anthropologie Chief Marketing Officer Elizabeth Preis has taken that role at Victoria’s Secret & Co., CEO Hillary Super announced on the earnings call.
Victoria’s Secret expects $10M hit to Q2 operating income from cybersecurity breach | Retail Dive
Related Posts
After a successful launch last year, the U.S. Book Show returns with a full menu of programming for professional bibliophiles of all stripes. Highlights include PW Editors’ Picks panels, author chats, and Book Buzz panels done in cooperation with publishers. Check out the schedule here for a taste of what’s on offer and when it’s happening. On the pages that follow, you’ll find in-depth information on the discussions and meetup opportunities you won’t want to miss. Once again, there’s no need to head across town or fly across the country to participate. You’ll find everything at the U.S. Book Show website, usbookshow.com. All times given are in Eastern Time. see details at: https://www.publishersweekly.com/pw/by-topic/industry-news/bea/article/89326-the-u-s-book-show-returns.html
The Association of American Publishers released its StatShot report for May 2020 reflecting reported revenue for all tracked categories, including Trade (consumer publications), K-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses. Total revenues across all categories for May 2020 were approximately $1.0 billion, a decline of 12.1% as compared to May 2019. Year-to-date sales were $4.3 billion, a decline of 4.5% as compared to the same period last year. Trade sales were down 7.9% year-over-year. Religious press revenues were up 7.0% year-over-year in May. Professional Books, including business, medical, law, technical and scientific, declined 3.7% for the month. University Presses declined 5.4% as compared to May of 2019.
Sun Chemical has launched SUNFOODSTM Natural Colorants, a product line available in the Americas, Europe, Middle East, and Africa that can match a wide array of industry standard and custom colors that can be applied to a variety of food and beverage products. This new line of natural colorants will be introduced under the “Inspired by nature” campaign to the food and nutrition marketplace at booth #1939 during Supply Side West in Las Vegas from October 31 to November 4. “Building on more than 40 years of experience cultivating natural food ingredients and natural color extraction, we’re excited to showcase our new SUNFOODS Natural Colorants product line at the premiere gathering of food and nutrition professionals worldwide,” said Sophia Jin, Business Manager Americas and EMEA, Food and Nutrition, Sun Chemical.