Victorias Secret & Co. - VSCO STOCK NEWS

Victoria's Secret has launched its first design collaboration with athlete Naomi Osaka, celebrating self-care and dreams through a new collection. This collection features casual sleepwear and intimates, including the new Forever Bra with fully recyclable pads. The pieces range from $32 and include various styles in soft color palettes. The collection is available nationwide and online, aiming to inspire women to embrace self-love and tranquility.

Victoria’s Secret & Co. (NYSE:VSCO) will report its fourth quarter and full fiscal year 2022 earnings on March 2, 2023. A live conference call is scheduled for March 3, 2023, at 8:00 a.m. ET, where executives will discuss the results. Investors can access the call through the company’s website or by phone. The release will include insights into the company's financial performance and strategic plans. Victoria’s Secret is known for its lingerie and beauty products, operating approximately 1,350 retail stores worldwide, and is committed to empowering its associates and delivering quality products.

Victoria’s Secret & Co. (NYSE: VSCO) has announced a significant share repurchase program, entering into an accelerated share repurchase agreement (ASR) with Goldman Sachs to buy back $125 million of its common stock. This transaction will begin with an initial delivery of approximately 2.5 million shares on February 3, 2023. Concurrently, the company raised its fourth quarter 2022 guidance, projecting operating income between $265 million to $275 million. Additionally, earnings per share are now expected to be $2.25 to $2.35, an increase from prior estimates.

Victoria’s Secret & Co. (NYSE: VSCO) announced a new share repurchase program authorizing the buyback of up to $250 million in common stock. This program follows the completion of a previous buyback initiative. The company projects fourth quarter 2022 operating income between $245 million and $265 million, with diluted EPS anticipated to range from $2.05 to $2.25, indicating slightly less optimistic guidance than previously communicated. The firm expects a high-single digit decline in net sales compared to $2.175 billion last year.

Victoria’s Secret & Co. (NYSE: VSCO) has completed the acquisition of Adore Me, Inc., a digitally-native intimates brand. This acquisition aims to enhance VSCO's digital focus and customer engagement. Adore Me is expected to generate approximately $250 million in profitable sales for fiscal year 2022. The deal is anticipated to be accretive to earnings and cash flow in 2023, enabling VSCO to leverage Adore Me’s technology for a better shopping experience. CEO Martin Waters expressed optimism about the growth potential and synergies created by this acquisition.

Victoria’s Secret reported third quarter 2022 results, showcasing net income of $24 million ($0.29 per diluted share), exceeding previous guidance. However, this marks a decline from $75 million ($0.81 per diluted share) in Q3 2021. Operating income was $43 million, also above guidance but down from $108 million a year prior. Net sales dropped 9% to $1.318 billion, with comparable sales down 11%. The company anticipates Q4 sales to decrease in the high-single digit range, forecasting full-year net sales to decline by 6-7%. An acquisition of Adore Me is expected to finalize by January 2023.

NetVirta, creator of Verifyt®, has partnered with Victoria's Secret to enhance online bra fitting for women. This collaboration provides customers with personalized size recommendations using 3D scanning technology, addressing the common challenge of finding the correct bra fit when shopping online. The integration of Verifyt® is expected to minimize online returns and improve conversion rates for Victoria's Secret. NetVirta aims to extend its innovative solutions beyond the current offerings, with future applications including virtual try-ons.

Victoria's Secret & Co. (NYSE: VSCO) has partnered with NetVirta to introduce innovative bra fit technology in its app. This technology allows customers to obtain personalized bra size recommendations through 3D scanning, enhancing the shopping experience and reducing return rates. With over 23,000 trained associates, the brand already leads the industry in bra fit services. This initiative aims to simplify online bra shopping, addressing common fitting challenges and empowering customers to make confident purchases.

Victoria's Secret & Co. (NYSE:VSCO) will announce its third quarter 2022 earnings after market close on Wednesday, November 30. A live webcast conference call is scheduled for Thursday, December 1, at 8:00 a.m. ET, where executives will discuss the results. Investors can access the call via victoriassecretandco.com or by telephone. The call will be archived on their website for those unable to attend live.