Victoria’s Secret to turn line from sexy to feminine

COLUMBUS, Ohio (AP) — Victoria’s Secret, the retailer that created the Very Sexy bra and the annual fashion show on television that features models in skimpy outfits, has gotten “too sexy” and that is hurting business, says the chain’s top executive.

“We’ve so much gotten off our heritage ... too sexy, and we use the word sexy a lot and really have forgotten the ultra-feminine,” Sharen Turney, Victoria’s Secret’s chief executive, told analysts on a conference call Thursday.

Victoria Secret’s parent, Limited Brands, said Wednesday that its fourth-quarter earnings fell 12 percent and that its first quarter earnings would come in below Wall Street estimates amid a weak economy and disappointing product launches that have cut margins. Sales at stores opened at least a year, considered a key indicator of a retailer’s strength, fell 8 percent in the fourth quarter for Victoria’s Secret and 2 percent for 2007.

Victoria’s Secret was launched with the idea that Victoria was manor-born and lived in London, Turney said.

“I feel so strongly about us getting back to our heritage and really thinking in terms of ultra feminine and not just the word sexy and becoming much more relevant to our customer,” Turney said.

Turney said Victoria’s Secret has gotten younger with its focus on its successful Pink line of lingerie and loungewear created for college-age women, and has tried to chase those customers with other product offerings.

At the same time, one of Limited Brands’ former brands, Abercrombie & Fitch, has just started its own lingerie chain called Gilly Hicks.

Turney said Victoria’s Secret wants to increase its level of sophistication in its product.

“We will also reinvent the sleepwear business and focus on product quality,” she said. “Our assortment will return to an ultra-feminine lingerie brand to meet her needs and expectation.”