Victoria’s Secret will offer fewer discounts, which will make the brand turnaround tough

Analysts warn that Victoria’s Secret’s performance 'could get worse before it gets better.'

L Brands Inc.’s plan to turn around the Victoria’s Secret lingerie brand includes offering fewer discounts, which could be a big problem for customers, analysts say.

John Mehas, Victoria’s Secret’s chief executive of lingerie, detailed a strategy that will focus on “emotional connections” and “product that she wants” with a “refreshed in-store experience” and an “updated brand strategy,” according to a FactSet transcript of the event. “[W]e think Victoria’s Secret’s performance could get worse before it gets better and weigh on the stock price,” UBS said, noting that executives said they would take time to shift the marketing message to keep from causing customer confusion.

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