Victoria's Secret & Co. Provides First Quarter 2025 Preliminary Results and Update on Security Incident Involving Information Technology Systems

Core Viewpoint - The company has postponed its first quarter 2025 earnings release and call due to a recent security incident affecting its IT systems, although preliminary financial results indicate strong performance exceeding prior guidance ranges [2][5][6]. Financial Performance - Preliminary net sales for the first quarter of 2025 are expected to be $1.35 billion, surpassing the prior guidance of $1.30 billion to $1.33 billion [8]. - Adjusted operating income is projected at $32 million, exceeding the previous guidance of $10 million to $30 million [8]. - Adjusted diluted earnings per share (EPS) is anticipated to be $0.09, compared to a prior range of ($0.10) to $0.10 [8]. Security Incident - On May 24, 2025, the company detected a security incident and initiated response protocols to contain unauthorized access [3]. - Corporate systems and the e-commerce website were temporarily shut down on May 26, 2025, with the website restored by May 29, 2025 [4]. - The incident has not materially disrupted operations but has led to expenses that may impact future financial results [6]. Operational Impact - The restoration process has limited employee access to necessary systems for financial reporting, resulting in the postponement of the earnings release [5]. - The company continues to assess the full scope and impact of the incident under the oversight of the Audit Committee [6].