-
Victoria’s Secret taps former Nike exec as CEO
L Brands subsidiary Victoria’s Secret has named a veteran of the specialty and intimate apparel verticals as its new CEO.
Jan Singer, who served as CEO of Spanx from June 2014 – March 2016, is now CEO of Victoria’s Secret. Previously, she held corporate VP positions at Nike from February 2004 – June 2014.
-
This apparel retailer had a great quarter
Not all teen apparel retailers are struggling. Just ask American Eagle Outfitters.
The company reported a better-than-expected rise in quarterly sales and profit as demand for its products rose even amid a sluggish retail environment.
American Eagle’s net income surged 39.3% to $40.5 million, or 22 cents per share, in the quarter ended April 30.
Net revenue increased 7% to $749.4 million. Same-store sales increased 6%, on top of a 7% increase in the year-ago period.

