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Victoria's Secret CEO Jan Singer has resigned amid a sales slump and competition from young companies challenging the brand's grip on the lingerie industry.The Wall Street Journal first reported Singer's departure last week. Victoria's Secret parent company L Brands (LB) made it official during its quarterly earnings release.John Mehas, now the president of Tory Burch, will take over as CEO of Victoria's Secret Lingerie early next year, the company said.Sales at Victoria's Secret stores that have been open for at least a year dropped 6% last quarter. Victoria's Secret has close to 1,000 stores in the United States, many of them tied to struggling malls.Last year, Victoria Secret's same-store sales in North America fell 8% in part because of the company's decision to stop selling swimwear and clothing."Our number one priority is improving performance at Victoria's Secret Lingerie and PINK," said Leslie Wexner, Chairman and CEO of L Brands. "We could not be more excited for [Mehas] to lead Victoria's Secret Lingerie to a new phase of success."Singer took over in 2016 after a stint at Spanx. She worked at Nike (NKE) for more than a decade.Victoria's Secret has been struggling to keep up with changing consumer tastes. Flashy fashion shows, push-up bras and celebrity models aren't drawing people in like they used to. Instead, women are clamoring for more products with a better fit.Online stores like ThirdLove, Lively and True & Co. are using tech and harnessing data to offer custom sizes and new products.Other parts of the L Brands business have been struggling. The company announced in September that it is closing Bendel's website and all 23 of its stores, including the store's iconic Fifth Avenue location in New York, in January 2019 because of sluggish sales.A change in Victoria's Secret leadership may not be enough to convince experts that L Brands is turning itself around."Jan was not the problem," Jefferies analyst Randal Konik wrote last week following rumors of Singer's exit. "The real problem is the VS brand is not resonating with consumers, its pricing power is gone, its market share is under permanent attack, and the business is over-stored." 2198
Tropical Storm Josephine became the 10th named storm of the Atlantic hurricane season Thursday, marking the earliest “J” storm to ever form in the basin.While Josephine is not a particularly noteworthy story due to its strength and location, the storm indicates that the 2020 hurricane season could go down as a record-breaking one. Analysis released by Colorado State University last week forecasts 24 named tropical systems in 2020, which would make it the second-most active season in history.If there are 24 named systems in 2020, it would become just the second time the National Hurricane Center would exhaust its name list. In that case, the National Hurricane Center would use the Greek alphabet for any remaining storms at the end of the season.Josephine does not pose an immediate threat to land, as of Thursday evening. The storm packs top winds of 45 MPH, and is in the open Atlantic well east of the Caribbean Islands. The National Hurricane Center projects it to turn to the north and begin to dissipate before heading in the direction of Bermuda. 1069

VACAVILLE, Calif. (AP) — Crews were battling wildfires in the San Francisco Bay Area and thousands of people were under orders to evacuate Wednesday as hundreds of wildfires blazed across the state amid a blistering heat wave now in its second week. Gov. Gavin Newsom blamed the extraordinary weather and thousands of lightning strikes for 367 known fires, including 23 major fires or groups of fires. He said the state has recorded nearly 11,000 lightning strikes in 72 hours. Ash and smoke filled the air over San Francisco, which is surrounded by wildfires burning in multiple counties to the north, east and south. 626
Two curious emperor penguins in Antarctica stumbled across a camera and the video is going viral. The curious birds flipped it over to face skyward, which recorded them staring into the camera and apparently trying to figure out what the device was doing on their turf. The Australian Antarctic division posted the 38-second clip on its Twitter page March 7. It has more than 246,000 views as of Friday morning.The camera was placed there by expeditioner Eddie Gault. The video was captured at the Auster Rookery near Australia's Mawson research station.#Penguin #selfie offers bird’s eye view of life in Antarctica! Curious Emperors have been captured on film at the Auster Rookery near Australia’s Mawson research station by expeditioner ?? Eddie Gault pic.twitter.com/MYle5Fshc7— Antarctic Division (@AusAntarctic) March 8, 2018 884
Via @fitsnews: “Donald Trump: John McCain Is ‘A Loser’” http://t.co/sgiETvdUqi— Donald J. Trump (@realDonaldTrump) July 18, 2015 136
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