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This shift in its promotional strategy is just one of the issues plaguing Victoria's Secret. Meanwhile, a broader fashion movement away from traditional bras to unconstructed bralettes is pressuring the company's sales both internally and externally. Because these items have lower price tags, some investors are concerned VS is trading sales on more lucrative items for less expensive pieces. Also, since they're easier to construct, bralettes make it easier for competitors to muscle in on Victoria's Secret's turf. While many on Wall Street expect Victoria's Secret to eventually overcome these challenges, they acknowledge the immediate future is likely to be choppy. That includes the critical holiday season, when L Brands generates more than one-third of its annual revenue . "There are valid concerns," Cowen and Company analyst Oliver Chen, who has an "outperform" rating on the stock, told CNBC. "It's a good long-term position that could have near-term pain." In its attempt to upend the sport bra market, Victoria's Secret faces a deep bench of competitors. That includes stalwarts like Nike , as well as the more fashionable athleisure brand Lululemon .
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No-one has been charged, police said. The Metropolitan Police Service's special enquiry team began an assessment process to see "what criminal offences - if any - may have been committed". Secret recordings On Friday, a force spokesman said: "Following that assessment, which included obtaining early investigative advice from the Crown Prosecution Service, the MPS started an investigation in November. "During the investigation new information was received and additional advice obtained from the CPS, following which the MPS has made the decision to close the investigation with no person being charged." The Sunday Mirror story in September included photographs and secret recordings it said were of Mr Vaz with the sex workers in a north London flat that he owns. Drugs, including cocaine, were mentioned during a secretly-recorded conversation. The recording also included a discussion about using a party drug known as poppers. 'True facts' Mr Vaz had opposed government attempts to criminalise the drug. Ministers later announced it would remain within the law. Following the initial allegations, Conservative MP Andrew Bridgen said he would be writing to Scotland Yard calling for Mr Vaz to be investigated for misconduct in a public office and conspiracy to supply controlled substances.