Victoria's Secret (NYSE: VSCO) shareholders lost ground to the market this week. Shares fell 14% through Thursday trading, compared to a 0.4% increase in the S 500. This drop added to a tough year for the retailer, whose stock is down nearly 50% so far in 2023, according to data provided by S&P Global Intelligence.  

The weekly decline came after management said the selling environment worsened over the last few months.

Comparable store sales were down 11% in Q1, Victoria's Secret said on Wednesday. While this result met management's sales goals, the company had to ramp up its discounting levels as shoppers became more cautious. This pullback worsened through the period, too. "As the quarter progressed business became more challenging," CEO Martin Waters said in a press release.

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Source Fool.com