We checked out a Victoria's Secret store in New York City to see why the brand is struggling - and what we found surprised us

Rebecca Harrington/Business Insider

The Victoria's Secret of today is a far cry from the fun, sexy, high-quality brand it was five years ago.

And customers are ditching in droves. Weak sales at L Brands, the parent company, have dragged the stock down 23% in 2017. The shares dropped as much as 45% year-to-date through August 30, hitting their lowest level since 2011, before rebounding slightly heading into the holiday shopping season.

In honor of the Victoria's Secret Fashion Show airing on Tuesday night, we went back to the store we visited in New York City to see how the brand is doing now. And what we found surprised us.