Victoria's Revelation

Brand Is 'Too Sexy,' Chief Says

Maybe it was the lusty mannequins in its stores, the massage oil on its shelves or the overabundance of cleavage on the glittery runway of its annual TV fashion show. But yesterday, Victoria's Secret chief executive Sharen J. Turney acknowledged that the chain had gotten "too sexy."

Is such a thing even possible?

"We have moved off of our brand heritage," she said in a conference call with analysts. "We use the word 'sexy' a lot and really have forgotten the ultra-feminine."

Victoria's Secret has long toed the line between seductive and sleazy, and its recent disappointing financial performance suggested that it had veered off course. Its parent company, Limited Brands, reported Wednesday that Victoria's Secret's fourth-quarter revenue rose to $1.89 billion. But sales at stores open at least a year, a key measure of a retailer's health, declined 8 percent. The company also said it will slow plans for new stores and remodels. The chain has about 1,000 stores, mostly in the United States.

"I think it's a very good decision on their part," said C. Britt Beemer, head of America's Research Group, a firm that studies consumer behavior. "Sometimes sex doesn't sell as well to a woman as it does to the men."

Turney said the brand's original storyline was of a to-the-manor-born Londoner named Victoria whose lacey underthings, we assume, were her little secret. But in recent years, Victoria became known as simply "Vicky," and she had no qualms about flaunting her sex appeal.

The chain began remodeling stores to resemble glittery boudoirs, with mannequins in feathery thongs and stilettos prominently displayed near the entrances. When the store in Tysons Corner Center was made over in 2005, enraged parents lobbied it to tone down the display. It eventually complied.

Still, the company sells the Very Sexy line of lingerie, swimwear and even makeup. Then there's the Sexy Little Things collection, which includes more-risque merchandise, such as peek-a-boo bras and undies, and shimmering body powder in a feathery bottle. And don't forget the third annual "What Is Sexy?" TV broadcast this month honoring the sexiest mom (Victoria Beckham), sexiest style (Scarlett Johansson) and sexiest smile (Ryan Seacrest?).

"We use the word sexy a lot," Turney said.

Victoria's Secret is trying to recalibrate. Fourth-quarter sales of fragrance and the collegiate-inspired Pink label grew, but sales of bras, panties and beauty products declined. Turney said the company will aim its marketing and merchandise at 26-year-olds, holding extensive focus groups and walking through malls with them. The company did similar research when it launched Pink, which has become a staple in dorm rooms.

Turney pointed to the company's Super Bowl ad this year as an example of its new direction. The spot featured model Adriana Lima in a black lace tank top and undies seductively tossing a football as she lounged in a chair.

"Let the real games begin," the ad said. It was the most popular spot on the broadcast and was seen by 103.7 million people, according to the Nielsen Co. Its fashion show last year on CBS featuring models wearing angel wings and little else drew 7.5 million people, down from its 2001 debut on ABC with 12.4 million viewers.