The head of Victoria's Secret's lingerie business is reportedly leaving the company as it continues its downward spiral
The CEO of Victoria's Secret's lingerie business has resigned.
Jan Singer, who has been with the company for two years, previously hailed from Nike and more recently Spanx, where she served as CEO for over a year.
The news comes at a difficult time for the brand, which has struggled in recent years. Same-store sales numbers at its brick-and-mortar stores are down 5% so far in 2018 and flat overall.
The CEO of Victoria's Secret Lingerie is leaving the company, The Wall Street Journal reported on Wednesday.
Jan Singer, who has been with the company for two years, previously hailed from Nike and more recently Spanx, where she served as CEO for over a year. Sources familiar with the matter told Bloomberg and CNBC that Singer resigned from her position.
Victoria's Secret did not immediately respond to Business Insider's request for comment.
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The news comes at a difficult time for the brand, which has struggled in recent years. Sales have slipped, and it has been accused of alienating core customers with oversexualized ads. Same-store sales numbers at its brick-and-mortar stores are down 5% so far in 2018 and flat overall.
Once the kingpin of the US lingerie market, Victoria's Secret has increasingly lost market share to more body-positive brands such as American Eagle's Aerie, which has seen explosive growth in recent years.
This month, one of its executives was called out for making "insensitive" comments during an interview with Vogue.
Ed Razek, chief marketing officer of Victoria's Secret parent company L Brands, said he didn't think the brand's annual fashion show should feature "transsexuals" because "the show is a fantasy."
These comments sparked an outcry online, which later led to Razek issuing a formal apology.
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