Victoria’s Secret apologises for ‘insensitive’ transgender model comment

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Following the backlash on social media, the chief marketing officer of L Brands, parent company of Victoria’s Secret and Bath & Body Works, has posted an apology on Twitter for comments he made about transgender models. Ed Razek, L Brands’s CMO, released a statement on Twitter clarifying a comment he made in an interview with Vogue magazine, which read:
“To be clear, we absolutely would cast a transgender model in our show. We’ve had transgender models come to castings… And like many others, they didn’t make it.”
Razek and Monica Mitro, vice president of public relations for Victoria’s Secret, sat down in an interview with Vogue which touched on the topic on the casting team’s choices. Razek, who is part of the casting team, mentioned the company had considered putting plus-sized models and transgenders in the show but had not acted on it, since the company “did not market to the whole world.”
L Brands has recently announced it is expecting a third quarter loss per share of about US$0.17. The reported loss per share includes a total charge of about US$0.32 per share, which consists of an approximate pretax cash charge of US$20 million related to the closure of its Henri Bendel business, and an approximate pretax non-cash impairment charge of US$80 million related to certain Victoria’s Secret store assets.
Excluding the charges mentioned, the company expects adjusted third quarter earnings per share to be approximately US$0.15, compared to its previous guidance of US$0.00 to US$0.05, principally driven by outperformance at Bath & Body Works.
The company has recently reported an 8 per cent increase in sales of US$860.5 million for the four weeks ending November 3 and a 4 per cent increase in same-store sales for the period. It has seen a 6 per cent increase for the 13 weeks ending November 3 of US$2.78 billion compared to the previous corresponding period.
L Brands, is scheduled to report third-quarter earnings on November 21.
Questions & Answers
Q.What specifically did the L Brands CMO say that led to the social media backlash?
What specifically did the L Brands CMO say that led to the social media backlash?
Ed Razek, L Brands’s CMO, commented in a Vogue interview that the company "did not market to the whole world" when discussing why it had not included plus-sized or transgender models in its show.
Q.Which L Brands division is performing well and helping offset other losses?
Which L Brands division is performing well and helping offset other losses?
Outperformance at Bath & Body Works is principally driving the adjusted third-quarter earnings per share. This division's success is noted as helping improve the company's financial outlook for the period.
Q.What financial charges contributed to L Brands's expected third-quarter loss per share?
What financial charges contributed to L Brands's expected third-quarter loss per share?
The reported loss per share includes a US$20 million pretax cash charge from closing Henri Bendel and an US$80 million pretax non-cash impairment charge related to Victoria’s Secret store assets.
Q.When is L Brands expected to announce its third-quarter earnings?
When is L Brands expected to announce its third-quarter earnings?
L Brands is scheduled to report its third-quarter earnings on November 21. This date is set for the official release of their financial performance for the period.
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