Consumers pushing back against high prices at Victoria's Secret

|By:, SA News Editor

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.

Subscribe for full text news in your inbox