Financial Performance - The company reported fourth quarter net income of $181 million, or $2.29 per diluted share, compared to $173 million, or $2.10 per diluted share in the same quarter last year[5]. - Fourth quarter adjusted net income was $204 million, or $2.58 per diluted share, at the high-end of the guidance range[6]. - Net sales for the fourth quarter were $2.082 billion, a 3% increase from $2.021 billion in the prior year[7]. - Gross profit for the fourth quarter of 2023 was $825,841, up from $744,268 in Q4 2022[27]. - Operating income for the full year 2023 was $245,566, a significant decrease from $477,633 in 2022[29]. - Adjusted net income per diluted share for Q4 2023 was $2.58, compared to $2.47 in Q4 2022[32]. Sales and Growth - The international business saw a 24% increase in sales compared to last year, contributing to the company's growth strategy[3]. - The company plans to implement multiple initiatives to drive growth, including enhancements to customer experience and product launches[4]. - For fiscal year 2024, the company forecasts net sales to be about $6.0 billion, reflecting a low-single-digit decline compared to the previous year[15]. - The first quarter 2024 net sales are expected to decrease mid-single digits compared to last year's $1.407 billion[16]. - Comparable sales decreased by 6% in Q4 2023 and 9% for the full year compared to 2022[24]. Cash Flow and Debt Management - The company generated $589 million in operating cash flow during the fourth quarter and reduced debt by over $150 million year-over-year[1][13]. - The company announced a new $250 million share repurchase authorization to enhance shareholder value[1][14]. Store Operations - The company operated 831 stores as of February 3, 2024, down from 837 stores at the beginning of the year[25]. - Total stores increased by 85 in Q4 2023, despite 73 closures, resulting in a total of 1,370 stores[25]. - The company reported a decrease in weighted average shares outstanding from 82,299 in 2022 to 78,909 in 2023[27]. Margins and Cost Management - The fourth quarter gross margin rate exceeded expectations, driven by disciplined inventory management and cost reductions[3]. - The company recognized $18,775 in acquisition-related items for Adore Me in Q4 2023[32].

Victoria's Secret & Co. (VSCO) is scheduled to report fourth-quarter 2023 results on Mar 6. In the last reported quarter, VSCO’s earnings missed the Zacks Consensus Estimate by 7.5%.Q4 EstimatesThe Zacks Consensus Estimate for fourth-quarter earnings per share is pegged at $2.46, indicating a decline of 0.4% year over year. In the past seven days, estimate revisions have remained stable. The consensus mark for revenues is pegged at $2.09 billion, suggesting a 3.5% increase year over year.Factors to NoteIn t ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Victoria's Secret (VSCO) reports results for the quarter ended January 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact 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, which is expected to be released on March ...

REYNOLDSBURG, Ohio, Feb. 15, 2024 (GLOBE NEWSWIRE) -- In conjunction with the Victoria's Secret & Co. (NYSE:VSCO) fourth quarter 2023 earnings release, which will cross the wire after market close on Wednesday, March 6th, you are invited to listen to a live webcast of the conference call on Thursday, March 7th at 8:00 a.m. ET with Victoria's Secret & Co. executives. What:Victoria's Secret & Co. Fourth Quarter 2023 Earnings Conference Call WebcastWhen:8:00 a.m. ET on Thursday, March 7th, 2024Where: https://w ...

REYNOLDSBURG, Ohio, Feb. 15, 2024 (GLOBE NEWSWIRE) -- In conjunction with the Victoria’s Secret & Co. (NYSE:VSCO) fourth quarter 2023 earnings release, which will cross the wire after market close on Wednesday, March 6th, you are invited to listen to a live webcast of the conference call on Thursday, March 7th at 8:00 a.m. ET with Victoria’s Secret & Co. executives. What:Victoria’s Secret & Co. Fourth Quarter 2023 Earnings Conference Call WebcastWhen:8:00 a.m. ET on Thursday, March 7th, 2024Where: https://w ...

Victoria's Secret & Co. (VSCO) recently announced a multi-year strategic partnership with Google Cloud to enhance online shopping experiences globally and improve operational efficiency. The decision to collaborate was driven by Google Cloud's strong proficiency in AI security practices and its adaptability in integration.Within this collaboration, the company aims to harness Google Cloud’s AI and generative AI technologies to develop a novel conversational assistant that provides personalized product recom ...

About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

REYNOLDSBURG, Ohio and SUNNYVALE, Calif., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Ahead of NRF 2024, the retail industry's largest event, Victoria's Secret & Co. (VS&Co) and Google Cloud today announced a strategic, multi-year partnership. Victoria's Secret & Co. will leverage Google Cloud's AI and generative AI technologies to create more personalized and inclusive online shopping experiences for its global customers. Through this partnership, VS&Co will also leverage Google Cloud's AI technologies to improve cu ...

OR Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________ FORM 10-Q _________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 28, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40515 _________________________________ VICTORIA'S SE ...

Victoria's Secret & Co. (NYSE:VSCO) Q3 2023 Earnings Conference Call November 30, 2023 8:00 AM ET Company Participants Kevin Wynk - Vice President, External Financial Reporting and Investor Relations Martin Waters - Chief Executive Officer Tim Johnson - Chief Financial Officer Conference Call Participants Simeon Siegel - BMO Capital Markets Dana Telsey - Telsey Group Alex Straton - Morgan Stanley Matthew Boss - JPMorgan Alex Shaw - Bank of America Irwin Boruchow - Wells Fargo Mauricio Serna - UBS Kathryn An ...