Victorias Secret And Co - VSCO STOCK NEWS

Victoria's Secret & Co. (NYSE: VSCO) has announced its fourth quarter 2024 earnings release and conference call schedule. The earnings release will be issued after market close on Wednesday, March 5th, followed by a live webcast conference call on Thursday, March 6th at 8:00 a.m. ET.

The company operates as a specialty retailer with a global footprint of 1,380 retail stores across nearly 70 countries, employing over 30,000 associates. Their portfolio includes Victoria's Secret, PINK, and Adore Me brands, offering fashion-inspired collections including lingerie, sleepwear, athleisure, and swim products.

Victoria's Secret & Co. (VSCO) announced significant leadership changes and positive holiday sales updates. Chief Financial and Administrative Officer Timothy Johnson will retire in June 2025, with Scott Sekella, former CFO of Joann, appointed as the new CFO. The company reported improved Q4 2024 guidance, expecting results at the high end of previous forecasts.

The updated guidance includes: net sales growth of 3-4% (excluding extra week from last year), adjusted operating income of $260-270 million, and adjusted diluted EPS of $2.20-2.30. The company experienced strong momentum in North America across stores and digital channels, with increased traffic attributed to improved merchandise offerings and the VS Fashion Show impact in October.

Management noted positive performance in both Victoria's Secret and PINK brands, particularly in beauty products during the holiday season. The company reports healthy inventory positions post-holiday and January semi-annual sale.

Victoria's Secret (VSCO) highlights its 17-year partnership with the Pacific Links Foundation (PAL) in Vietnam, focusing on preventing human trafficking through education and economic empowerment. The company has funded over 3,100 scholarships, 1,500 career orientation summer camps, and provided 600 bicycles for girls' school commuting in rural Vietnam. The initiative aims to mitigate gender-based violence and harassment through supply chain training and monitoring, while engaging with local community partners. The program has been particularly impactful in rural Vietnam, where education costs often present significant barriers to families, potentially leading to poverty cycles.

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.