Victoria's Secret CEO Jan Singer to step down

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The CEO of Victoria's Secret's lingerie division, Jan Singer, has resigned and plans to step down after working at the retailer for two years, a person briefed on the matter told CNBC.

The lingerie company, owned by L Brands, has struggled to grow sales as younger shoppers turn to more inclusive bra and underwear retailers. Singer joined Victoria's Secret from Spanx and had been trying to "aggressively" seek out new customers with new products and by understanding shoppers better.

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