Victoria’s Secret & (US:VSCO)2025-03-06 12:59Financial Performance - Fourth Quarter 2024 - Net sales increased by $23 million, representing a 1% increase compared to the fourth quarter of 2023[6] - Comparable store sales increased by 3%[6] - Gross profit remained relatively flat at $835 million, with a gross profit margin of 397%, a decrease of 30 basis points[6] - Operating income increased by $159 million, a 6% increase, resulting in an operating margin of 142%, a 60 basis points increase[6] - Net income attributable to Victoria's Secret & Co increased by $128 million, a 6% increase[6] - Net income per diluted share attributable to Victoria's Secret & Co increased by $002 to $260, a 1% increase[6] Financial Performance - Full Year 2024 - Net sales increased by $478 million, representing a 1% increase compared to 2023[8] - Comparable store sales decreased by 2%[8] - Gross profit increased by $316 million, a 1% increase, with a gross profit margin of 370%, a 20 basis points increase[8] - Operating income increased by $462 million, a 14% increase, resulting in an operating margin of 60%, a 70 basis points increase[8] - Net income attributable to Victoria's Secret & Co increased by $394 million, a 22% increase[8] - Net income per diluted share attributable to Victoria's Secret & Co increased by $042 to $269, a 19% increase[8] Balance Sheet - Total assets decreased from $4600326 thousand to $4531587 thousand[10] - Total current assets decreased from $1533141 thousand to $1441221 thousand[10] - Total liabilities and equity decreased from $4600326 thousand to $4531587 thousand[10] 2025 Outlook - Net sales are projected to be approximately $130 billion to $133 billion for the first quarter and approximately $62 billion to $63 billion for the full year[11] - Adjusted operating income is expected to be approximately $10 million to $30 million for the first quarter and approximately $300 million to $350 million for the full year[11] - Adjusted net income (loss) per diluted share is projected to be approximately ($010) to $010 for the first quarter and approximately $200 to $245 for the full year[11] - Capital expenditures are estimated to be approximately $240 million for the full year[11] - Adjusted free cash flow is projected to be approximately $180 million to $220 million for the full year[11] Store Count - Company-operated US store count decreased by 26, a 3% decrease[12] - Company-operated Canada store count increased by 1, a 4% increase[12] - Partner-operated store count increased by 42, a 9% increase[12]