COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST) — Short-term hurdles aren’t shaking the long-term strategy at Victoria’s Secret & Co.

The Columbus-based retailer reported net sales dropped 4.5% to $1.48 billion in the first quarter. That was at the high end of the company’s previously stated guidance. Without the $75 million impact of sales tied to the 2021 government stimulus, sales for the quarter were flat.

Comparable sales dropped 8% compared with the first quarter of 2021.

Victoria’s Secret (NYSE: VSCO) is in just its third quarter as a standalone public company, having split from former sister brand Bath & Body Works last summer.

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