Seasoned executive and proven merchant operator to take brands to the next level Preliminary Q2 results at the top end or above company guidance for sales, adjusted operating income, and adjusted earnings per share REYNOLDSBURG, Ohio, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Victoria's Secret & Co. ("VS&Co" or the "Company") (NYSE: VSCO) today announced that its Board of Directors (the "Board") has appointed Hillary Super as Chief Executive Officer and a member of the Board, effective September 9, 2024. Super succ ...

REYNOLDSBURG, Ohio, Aug. 07, 2024 (GLOBE NEWSWIRE) -- In conjunction with the Victoria's Secret & Co. (NYSE: VSCO) second quarter 2024 earnings release, which will cross the wire after market close on Wednesday, August 28th, you are invited to listen to a live webcast of the conference call on Thursday, August 29th at 8:00 a.m. ET with Victoria's Secret & Co. executives. What: Victoria's Secret & Co. Second Quarter 2024 Earnings Conference Call Webcast When: 8:00 a.m. ET on Thursday, August 29th, 2024 Where ...

The new collection introduces Dream Angels® with Love Cloud™ Innovation – proving you never have to sacrifice craftsmanship for comfort. NEW YORK, July 25, 2024 /PRNewswire/ -- Today, Victoria's Secret announced the launch of Victoria's Secret Dream, a collection that combines the ultimate experience in beauty and everyday comfort – a match made in heaven. Lensed by acclaimed photographer Angelo Pennetta and styled by the talented Emmanuelle Alt at Longleat House in England, the campaign captures the romant ...

Analysis Rating: Filtered By: VSCO (2) × Analyst's Rating History on VSCO g Sel 40 36 20 Jul '23 Data by YCharts Victoria's Secret & C.o. (NYSE: VSCO) operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. We have started overage on the firm in September 2023, with an initial bearish rating, stating that the firm's stock may just be a value trap. We have reiterated this "sell" rating in March 2024, due to the deteriorating financial performance and the uncerta ...

Financial Performance - In Q1 2024, net sales decreased by $48 million, or 3%, to $1.359 billion compared to $1.407 billion in Q1 2023, with comparable sales down 5%[87] - North American store sales fell by $57 million, or 7%, to $729 million, primarily due to decreases in average unit retail, traffic, and conversion[101] - Direct channel sales decreased by $15 million, or 3%, to $449 million, as an increase in conversion was offset by declines in average unit retail and traffic[101] - International net sales increased by $24 million, or 16%, to $181 million, driven by growth in China and wholesale arrangements[102] - Operating income for Q1 2024 was $26 million, down from $28 million in Q1 2023, with an operating income rate of 1.9% compared to 2.0%[96] - Gross profit decreased slightly by $1 million to $501 million, while the gross profit rate increased to 36.9% from 35.7%[103] - General, administrative, and store operating expenses rose by $1 million to $475 million, with the expense rate increasing to 34.9% from 33.7%[106] Tax and Compliance - The effective tax rate for Q1 2024 was 151.1%, significantly higher than 34.0% in Q1 2023, primarily due to additional tax expenses from share-based compensation[109] - The company is in compliance with all covenants under its long-term debt and borrowing facilities as of May 4, 2024[136] Strategic Focus - The company continues to focus on strategic priorities: Accelerate Our Core, Ignite Growth, and Transform the Foundation[88] Store Operations - The company operates a total of 1,370 stores as of May 4, 2024, with a net increase of 21 stores during the quarter[93] Cash Flow and Financing - Net cash used for operating activities in Q1 2024 was $116 million, an increase of $8 million compared to Q1 2023[117] - Capital expenditures for Q1 2024 were $39 million, down from $55 million in Q1 2023, primarily related to store capital programs and technology investments[118][119] - Cash and cash equivalents at the end of Q1 2024 were $105 million, down from $132 million at the end of Q1 2023[116] - Net cash used for financing activities in Q1 2024 was $10 million, significantly lower than $132 million in Q1 2023[121][122] - Cash paid for interest in Q1 2024 was $12 million, compared to $13 million in Q1 2023[131] Debt and Credit - Total long-term debt as of May 4, 2024, was $1,119 million, a slight decrease from $1,120 million as of February 3, 2024[131] - The company borrowed $90 million and made repayments of $15 million under the ABL Facility during the first quarter of 2024 and 2023, respectively[135] - The principal value of the company's outstanding debt as of May 4, 2024, was $990 million, with an estimated fair value of $867 million[149] - The company's credit ratings as of May 4, 2024, are Ba3 from Moody's and BB from S&P for corporate ratings[137] Investments and Obligations - The company’s contractual obligations primarily consist of long-term debt, operating leases, and purchase orders for merchandise inventory[138] - The company’s investment portfolio is primarily comprised of interest-bearing instruments, with no material risk to principal associated with interest rate changes[147] - The company maintains cash and cash equivalents primarily in bank deposits, monitoring the credit standing of financial institutions[151] Accounting Standards - The company has not adopted any new accounting standards during the first quarter of 2024 that had a material impact on its results[139]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Victoria's Secret & Co. (NYSE:VSCO) Q1 2024 Earnings Conference Call June 6, 2024 8:00 AM ET Company Participants Kevin Wynk - VP, External Financial Reporting & IR Martin Waters - Chief Executive Officer Tim Johnson - Chief Financial Officer Conference Call Participants Simeon Siegel - BMO Capital Markets Dana Telsey - Telsey Group Lorraine Hutchinson - Bank of America Brooke Roach - Goldman Sachs Ike Boruchow - Wells Fargo Warren Cheng - Evercore ISI Jonna Kim - TD Cowen Alex Straton - Morgan Stanley Marn ...

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]