In the first quarter, Victoria's Secret saw a steady improvement in sales trends across its physical stores and online platforms in North America. This positive momentum was evident for both the Victoria's Secret and PINK brands. Despite a tough retail landscape and high competition in promotions, the company successfully increased gross margin rate compared to the previous year by effectively managing inventory and strategically driving customer traffic. Victoria's Secret & Co. (VSCO) posted first-quarter ...

• our ability to successfully implement our strategic plan; • difficulties arising from turnover in company leadership or other key positions; • our ability to attract, develop and retain qualified associates and manage labor-related costs; • our ability to successfully operate and expand internationally and related risks; • our ability to successfully operate and grow our direct channel business; | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------ ...

Financial Performance - Revenue for the quarter ended April 2024 was $1.36 billion, a 3.4% decrease compared to the same period last year [1] - EPS for the quarter was $0.12, down from $0.28 in the year-ago quarter [1] - The reported revenue matched the Zacks Consensus Estimate of $1.36 billion, while the EPS of $0.12 exceeded the consensus estimate of $0.11 by 9.09% [1] Stock Performance - Victoria's Secret shares have returned +24.8% over the past month, outperforming the Zacks S&P 500 composite's +3.4% change [3] - The stock currently has a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3] Key Metrics - Comparable Sales - Stores and Direct: -5%, worse than the -3.8% average estimate based on three analysts [4] - Comparable Sales - Stores Only: -8%, slightly worse than the -7.5% average estimate based on two analysts [4] - Total stores - Company-Operated: 828, slightly below the 829 average estimate based on two analysts [4] - Total stores - China Joint Venture: 71, slightly above the 70 average estimate based on two analysts [4] - Geographic Net Sales - Direct: $448.80 million, exceeding the two-analyst average estimate of $439.03 million, but representing a year-over-year change of -3.4% [4]

Over the last four quarters, the company has surpassed consensus EPS estimates two times. Victoria's Secret, which belongs to the Zacks Leisure and Recreation Products industry, posted revenues of $1.36 billion for the quarter ended April 2024, in line with the Zacks Consensus Estimate. This compares to year-ago revenues of $1.41 billion. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently- ...

Sales Performance - First quarter 2024 net sales decreased by 3% to $1.359 billion compared to $1.407 billion in the first quarter of 2023[5] - International net sales increased by 15.6% to $181.5 million in the first quarter of 2024[17] - Total comparable sales for the first quarter of 2024 decreased by 5%[5] - Second quarter 2024 net sales are forecasted to decrease in the low-single digit range compared to $1.427 billion in the second quarter of 2023[6] - Full year 2024 net sales are forecasted to be about $6.0 billion, down low-single digits compared to fiscal year 2023[7] - Net sales for 2024 were $1.36 billion, a decrease of 3.4% compared to $1.41 billion in 2023[21] Profitability and Income - First quarter 2024 adjusted operating income was $40 million, at the high-end of the preliminary results range[4] - Adjusted operating income for fiscal year 2024 is expected to be about $250 million to $275 million[7] - Gross margin rate in the first quarter of 2024 was above last year due to disciplined inventory management[2] - The company reported a net loss of $4 million, or $0.05 per diluted share, for the first quarter of 2024[3] - Gross profit for 2024 was $501.3 million, slightly down from $502.4 million in 2023[21] - Operating income for 2024 was $26.3 million, a decrease from $28.3 million in 2023[21] - Net loss attributable to Victoria's Secret & Co. for 2024 was $3.6 million, compared to a net income of $0.7 million in 2023[21] - Adjusted operating income for 2024 was $39.6 million, compared to $55.0 million in 2023[24] - Adjusted net income attributable to Victoria's Secret & Co. for 2024 was $9.1 million, down from $21.9 million in 2023[24] - Adjusted net income per diluted share for 2024 was $0.12, compared to $0.28 in 2023[24] Digital Sales and Customer Experience - Digital sales performance outpaced stores due to investments in improving the customer experience[2] Acquisition and Restructuring - Adore Me acquisition-related items in 2024 included an $8.1 million pre-tax charge[24] - Amortization of intangible assets was $6.3 million in both 2024 and 2023[25] - Restructuring charge in 2023 was $11.1 million, with no such charge in 2024[26]

First quarter sales, operating income and EPS at high-end of previously announced preliminary results Provides second quarter guidance and reaffirms full year 2024 outlook Proxy advisory firms recommend in favor of all director candidates, approval of increased capacity under the stock plan, and say-on-pay REYNOLDSBURG, Ohio, June 05, 2024 (GLOBE NEWSWIRE) -- Victoria's Secret & Co. ("Victoria's Secret" or the "Company") (NYSE: VSCO) today reported financial results for the first quarter ended May 4, 2024. ...

First quarter sales, operating income and EPS at high-end of previously announced preliminary results Provides second quarter guidance and reaffirms full year 2024 outlook Proxy advisory firms recommend in favor of all director candidates, approval of increased capacity under the stock plan, and say-on-pay REYNOLDSBURG, Ohio, June 05, 2024 (GLOBE NEWSWIRE) -- Victoria's Secret & Co. ("Victoria's Secret" or the "Company") (NYSE:VSCO) today reported financial results for the first quarter ended May 4, 2024. C ...

The market expects Victoria's Secret (VSCO) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended April 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they m ...

REYNOLDSBURG, Ohio, May 15, 2024 (GLOBE NEWSWIRE) -- In conjunction with the Victoria's Secret & Co. (NYSE:VSCO) first quarter 2024 earnings release, which will cross the wire after market close on Wednesday, June 5th, you are invited to listen to a live webcast of the conference call on Thursday, June 6th at 8:00 a.m. ET with Victoria's Secret & Co. executives. What: Victoria's Secret & Co. First Quarter 2024 Earnings Conference Call Webcast When: 8:00 a.m. ET on Thursday, June 6th, 2024 Where: https://www ...

Where: https://www.victoriassecretandco.com/investors/financial-information/events-and-presentations How: Log on to victoriassecretandco.com or call: Domestic Dial-In Number: 800.619.9066 (Conference ID 5358727) Domestic Replay Number: 866.363.4045 (Conference ID 5358727) International Dial-In Number: 212.519.0836 (Conference ID 5358727) International Replay Number: 203.369.0206 (Conference ID 5358727) REYNOLDSBURG, Ohio, May 15, 2024 (GLOBE NEWSWIRE) -- In conjunction with the Victoria's Secret & Co. (NYSE ...