But perhaps more importantly, Americans are moving away from the "bombshell" look Victoria's Secret has built its reputation on, and are instead stocking up on more natural, unstructured bralettes. Because bralettes are easier to construct, they make it simpler for nontraditional lingerie brands to challenge the stalwart. Both American Eagle ()'s aerie lingerie line and Urban Outfitters () have recently cited the item as one trend fueling their sales.The analyst pointed to a decline in breast augmentations as one example of consumers' changing tastes. Roughly 279,000 American women went under the knife in 2015, down from nearly 331,000 three years earlier. It was the third consecutive year that number had fallen.And in its December issue, Vogue UK declared that showing cleavage is no longer fashionable.L Brands last week said it expects third-quarter earnings of 40 cents per share, at the low end of its prior forecast and below Wall Street's expectations. Its October comparable sales also disappointed, rising 1 percent. That included a 2 percent drop at Victoria's Secret.
The company's shares are down 30 percent this year and at midday Monday were trading up 1.3 percent at $65.88.



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