Parent company L Brands said it will make a decision on the future of the lingerie business in the next six months.
The retailer is launching its spring 2021 campaign today, along with a new augmented reality shopping guide on Snapchat.
The retailer released quarterly sales figures, improving at the Free People brand, while falling short at Urban Outfitters and Anthropologie.
The Coach, Kate Spade parent company has increasingly invested in its omnichannel, including digital capabilities and immersive store experiences.
Martin Waters takes the helm as CEO of the lingerie brand with Stuart Burgdoerfer retiring as interim CEO and CFO.
Company shares rose more than 2 percent premarket as a result.
The fashion group logged a $178 million profit, its second consecutive quarter of gains amid the pandemic.
Meanwhile, the big-box retailer continues to grow its bottom line, despite an increasingly challenging retail environment.
The retailer lays out its three-year growth strategy at the company’s Investor Day.
The jeweler is now expecting fourth-quarter sales to be between $2.10 billion and $2.12 billion.
Target also revealed holiday sales were boosted by online shopping.