Business

Almost half of Victoria’s Secret’s holiday products have been stuck in ports or during transport




The company said it ordered 200 million units of goods for the fourth quarter sales period, but 90 million of those goods are delayed due to the supply chain crisis, as ships loaded with products from abroad remain stuck in US ports.
What’s worse: The total holiday order was even higher, initially 210 million units, said Martin Waters, CEO of Victoria’s Secret & Co, on Thursday during the company’s first revenue interview since it was spun off from L Brands earlier this year.

“Some goods were in danger of not coming here at all. So 1[ads1]0 million units were canceled,” he said. – And in addition to that, we have 100 vessels for anchor right now that do not come ashore.

Waters said that Victoria’s Secret switched to air freight to bring in goods faster. Ninety percent [of holiday products] comes in by plane, “he said.” But it’s not super fast. It used to take two days by plane. Now it’s nine days to two. “

Regarding the brand’s pajama masset, which tends to be popular Christmas gift items, Waters said that the retailer has 30% fewer PJs in the system right now compared to the same period last year.

“It’s definitely bad for business,” Waters said. “And so it affects the customer. She does not see the range of news that she is used to watching at this time of year.”



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