Results from a study conducted by Wells Fargo indicates the tough time that Victoria's Secret is having in holding on to customers.
58% of the survey respondents who shopped at VS less over the last year said they found the prices too high.
28% of the respondents plan to shop at the chain less in the next 12 months.
"As L Brands has been known to take price up a bit each year with little resistance, it appears that the brand may be approaching a price ceiling, as prices may now be driving customers away,” sums up the Wells Fargo note.
Victoria's Secret owner L Brands (NYSE:LB) is down 38% YTD.
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