A woman passes covered mannequins at a Victoria’s Secrets boutique amid the coronavirus disease outbreak in Singapore May 27, 2020. REUTERS/Edgar Su
Shares of the company surged 17% in extended trading after the Victoria’s Secret owner also said its cost-cutting efforts, including layoffs and inventory management, would help it save about $400 million annually. Columbus, Ohio-based L Brands estimated a 10% rise in second-quarter revenue for the brand, even as it expects total net sales to be down about 20% from a year earlier.
“BBW is being helped by hand sanitizer while its candle sales slow. Sanitizer has been a lifesaver,” Jefferies analyst Randal Konik said.
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