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Victoria's Secret & Co. (NYSE: VSCO) is a renowned specialty retailer offering a wide range of intimate apparel, sleepwear, and beauty products. The company is globally recognized for its fashion-inspired collections, award-winning fragrances, and celebrated supermodels. Operating both physical stores and a robust online platform, Victoria's Secret & Co. ensures customers can shop their favorite products anytime and anywhere.
The company is known for its iconic brands, Victoria's Secret and Victoria's Secret PINK, which aim to inspire and uplift customers at every stage of their lives. In 2022, the company acquired Adore Me, a technology-led, digital-first lingerie brand. This acquisition aims to modernize the digital shopping experience and integrate innovative tech solutions.
Recently, Victoria's Secret & Co. has partnered with Google Cloud to enhance its online shopping experience using AI technologies. This partnership includes the development of AI-powered conversational assistants and advanced product search features, aiming to provide personalized recommendations and streamline internal operations.
Victoria's Secret & Co. operates over 1,350 retail stores in nearly 70 countries and employs more than 30,000 associates. The company's commitment to customer satisfaction and technological innovation positions it as a leader in the retail market.
Victoria's Secret & Co. (NYSE: VSCO) reported improved financial results for Q2 2024, with net income of $32 million ($0.40 per diluted share) compared to a net loss in Q2 2023. The company saw sequential improvement in quarterly sales for the fourth consecutive quarter and delivered year-over-year quarterly operating income growth for the first time since 2021. Key highlights include:
- Net sales of $1.417 billion, down 1% YoY
- Operating income of $62 million, up from $26 million in Q2 2023
- Gross margin expansion and SG&A cost reduction
- High single-digit sales growth in International and Adore Me businesses
Victoria's Secret raised its full-year 2024 outlook, forecasting net sales to be down approximately 1% and adjusted operating income between $275-$300 million. For Q3 2024, the company expects low single-digit net sales growth and an adjusted operating loss of $40-$60 million.
Victoria's Secret & Co. (NYSE: VSCO) has appointed Hillary Super as its new CEO, effective September 9, 2024. Super, with nearly 30 years of retail merchant expertise, succeeds Martin Waters. The company also released preliminary Q2 2024 results, expecting to meet or exceed previous guidance:
- Net Sales: (1%) to (2%) vs. guidance of (1%) to (3%)
- Adjusted Operating Income: $57 - $62 million vs. $30 - $45 million
- Adjusted Diluted EPS: $0.34 to $0.39 vs. $0.05 to $0.20
The company noted sequential improvement in North American sales for the fourth consecutive quarter, with success in new product launches and improved product acceptance.
Victoria's Secret & Co. (NYSE: VSCO) has announced its upcoming second quarter 2024 earnings release and conference call. The earnings release will be issued after market close on Wednesday, August 28th, 2024. A live webcast of the conference call is scheduled for Thursday, August 29th, 2024, at 8:00 a.m. ET.
Investors and analysts can access the webcast through the company's website or via phone using the provided dial-in numbers. For those unable to attend live, an archived version will be available on the Victoria's Secret & Co. website.
Victoria's Secret & Co. is a specialty retailer offering fashion-inspired collections across multiple brands, including Victoria's Secret, Victoria's Secret PINK, and Adore Me. The company operates over 1,370 retail stores in nearly 70 countries and employs approximately 30,000 associates globally.
Victoria's Secret (NYSE: VSCO) has launched the Victoria's Secret Dream collection, combining beauty and everyday comfort. The campaign, shot by Angelo Pennetta and styled by Emmanuelle Alt, features top models including Behati Prinsloo and Candice Swanepoel. The collection introduces Dream Angels® with Love Cloud™ Innovation, featuring ForeverStretch Lace™ and Marshmallow Memory Foam bra padding.
The line includes bras, panties, and sexy sleep items with prices starting at $44.95 for bras and sizes ranging from XS-XXL and 32-40 bands, A-G cups. The collection will be available in retail locations and online from July 25th, with international launch dates to be announced. This launch aligns with Victoria's Secret's commitment to providing comfortable, beautiful intimates for a diverse range of women.
Victoria’s Secret & Co. (NYSE: VSCO) announced financial results for the first quarter ended May 4, 2024. The company reported first quarter net sales of $1.359 billion, a 3% decrease compared to last year. Net loss was $4 million, or $0.05 per diluted share, compared to net income of $1 million, or $0.01 per diluted share, for the same period in 2023. Adjusted net income was $9 million, or $0.12 per diluted share. Adjusted operating income was $40 million, at the high end of the preliminary results range.
The company attributed improved North American sales trends to new merchandise and brand initiatives. Digital sales outpaced in-store sales due to investments in customer experience. International sales grew in the mid-teens percentage range. Victoria's Secret provided a cautious outlook for the broader retail environment but reaffirmed its full-year forecast, expecting net sales to be around $6.0 billion, or down low-single digits, with adjusted operating income between $250 million and $275 million.
Victoria’s Secret & Co. (NYSE: VSCO) announced the release of their first quarter 2024 earnings on June 5th, after market close. A live webcast of the conference call will be held on June 6th at 8:00 a.m. ET. The call will include discussions by Victoria’s Secret executives and will be accessible via the company’s official website. If participants are unable to join live, an archived version will be available online.
Victoria’s Secret & Co. is a renowned retailer offering a variety of fashion-inspired collections, including lingerie, sleepwear, and swimwear, alongside prestige fragrances and body care. They operate over 1,370 retail stores in approximately 70 countries, employing around 30,000 associates.
Victoria’s Secret & Co. reported strong preliminary results for the first quarter of 2024, with net sales, adjusted operating income, and adjusted EPS meeting or exceeding guidance. CEO Martin Waters highlighted the positive performance, attributing it to new merchandise, improved brand projection, and growth in digital sales. Despite a challenging retail environment, the company experienced improving trends in both stores and online, with international sales showing strong growth. Victoria’s Secret reaffirmed its fiscal 2024 guidance.
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