Victorias Secret & Co. - VSCO STOCK NEWS

Victoria's Secret & Co. (VS&Co) has received two notable awards from the Fourth Annual Anthem Awards: a Silver Award in Sustainability, Environment, & Climate for their collaboration with Alabama cotton farms, and a Bronze Award for their 2023 Adaptive Collection in Diversity, Equity & Inclusion.

The company's innovative cotton initiative involves direct purchasing from four Alabama family farms (one Black-owned, three women-owned), eliminating intermediaries to ensure farmers receive full proceeds. Additionally, VS&Co launched VS & PINK Adaptive, their first collection of intimates for women with disabilities, developed in partnership with the Runway of Dreams Foundation.

Victoria's Secret (VSCO) reported strong Q3 2024 results with net sales of $1.347 billion, marking a 7% increase from Q3 2023 and exceeding guidance. Total comparable sales increased 3%. The company reported a net loss of $56 million ($0.71 per share), improving from a $71 million loss in Q3 2023.

Performance was driven by mid-single digit growth in North America and over 20% growth in International business. All brands - Victoria's Secret, PINK, and Adore Me - showed year-over-year growth. The company raised its full-year 2024 outlook, forecasting net sales growth of 1-2% and adjusted operating income of $315-345 million.

For Q4 2024, VSCO expects 2-4% sales growth and adjusted operating income of $240-270 million, with adjusted earnings per share projected at $2.00-2.30.

Victoria's Secret has launched a groundbreaking initiative to purchase cotton directly from four Alabama family farms, including three women-owned and one Black-owned operation. In 2023, approximately 43% of the company's cotton was sourced directly from these Alabama farm partners. This direct-to-farm model eliminates intermediaries, ensuring farmers receive full proceeds from their crops. The initiative is particularly significant given that women-owned and operated farms account for only 3% of U.S. cotton production. The company plans to expand these direct partnerships both domestically and internationally, focusing on empowering women and supporting human rights while managing environmental impact.

Victoria's Secret & Co. (VSCO) has been named to Seramount's 2024 Top 80 Companies for Executive Women list, recognizing organizations that excel in advancing women through corporate ranks. The recognition highlights VS&Co's commitment to women's achievements, focusing on succession planning, profit-and-loss roles, gender-pay parity, and support programs. The company was also recognized as a Pinnacle Inclusion Index Company by Seramount for its practices in recruitment, retention, and advancement of diverse groups.

Victoria's Secret & Co. (NYSE: VSCO) announces its third quarter 2024 earnings release webcast scheduled for December 5th after market close. The company will host a live conference call on December 6th, 2024, at 8:00 a.m. ET. Investors can access the webcast through the company's website or via provided domestic and international dial-in numbers. The company operates over 1,370 retail stores across nearly 70 countries under the Victoria's Secret, Victoria's Secret PINK, and Adore Me brands, employing approximately 30,000 associates.

Victoria's Secret & Co. (VSCO) has been named to Forbes' list of America's Best Employers for Women 2024. The recognition, presented by Forbes and Statista Inc., reflects the company's commitment to gender equality and workforce diversity, with women comprising 85% of their total workforce.

The selection process involved an independent survey of over 150,000 women from companies with at least 1,000 employees across various U.S. industry sectors. The ranking system weighted recent data and current employee responses more heavily, with 600 companies making the final list. VS&Co's Chief Human Resources & Legal Officer, Melinda McAfee, emphasized the company's dedication to supporting women's careers and well-being.

Victoria's Secret (VSCO) highlights its commitment to women's health through cancer-related initiatives. Through the VS Global Fund for Women's Cancer, the company has invested $13 million since 2021 to advance cancer research, prevention, and treatment. In 2023, VS&Co provided $200,000 Career Development grants to five women researchers and offers $700,000 Rising Innovator awards over three years to mid-career scientists. The company also supports international organizations like Future Dreams in the UK and BasicNeeds Vietnam, which provide cancer-related services and support.

Victoria's Secret & Co. has released its first annual Women's Impact Report, showcasing the company's progress in supporting women globally. The report highlights VS&Co's commitment to being the most trusted brand for women worldwide. Key points include:

- A Board of Directors comprising 89% women
- Partnership with three women cotton farmers in Alabama
- Support for nearly 60 non-profit organizations focused on women's issues
- Efforts to break down barriers for women and represent them in all aspects of the business

The company emphasizes its responsibility to women as both a moral and business imperative, given that women are their associates, customers, talent, and partners in the value chain. VS&Co pledges to continue investing in these initiatives in the future.

Victoria's Secret (NYSE: VSCO) has announced the return of VSX, an all-new collection blending performance, comfort, and fashion. The campaign, featuring high-profile models like Gigi Hadid and Paloma Elsesser, showcases versatile styles for day-to-night wear. The collection includes Sports Bras starting at $49.95, VSX Elevate™ Leggings from $69.95, and ready-to-wear apparel from $44.95, available in sizes XS-XXL and 32B-44DDD. VSX aims to redefine sport with innovative fabrics and fierce silhouettes, emphasizing both performance and style. The collection launches on September 12th in Victoria's Secret stores and online, with international releases to follow.