Victoria’s Secret & (US:VSCO)2023-08-31 12:01Financial Performance - Second Quarter 2023 (Adjusted) - Net sales decreased by 6% to $14269 million compared to $15212 million in 2022[26] - Comparable store sales decreased by 14%[26] - Gross profit decreased by 10% to $4932 million[26] - Operating income decreased by 62% to $487 million[26] - Net income attributable to Victoria's Secret & Co decreased by 79% to $189 million[26] - Net income per diluted share attributable to Victoria's Secret & Co decreased by 78% to $024[26] Financial Performance - First Half 2023 (Adjusted) - Net sales decreased by 6% to $28343 million compared to $30050 million in 2022[28] - Operating income decreased to $1037 million, representing 37% of sales[26] - Net income attributable to Victoria's Secret & Co decreased to $408 million[18] Outlook - The company expects net sales for the third quarter to decrease in the low- to mid-single digits compared to $1318 billion in 2022[23] - The company anticipates adjusted SG&A expense rate for the third quarter to be approximately 38% to 39%, deleveraged from 2022 rate of 315%[23] - The company projects capital expenditures of approximately $255 million for the full year[23]