Victorias Secret & Co. - VSCO STOCK NEWS

Victoria's Secret & Co. (NYSE: VSCO) has provided an update on its third quarter 2022 financial expectations, estimating operating income at the high end of the $10 million to $40 million range and earnings per share at the high end of $0.00 to $0.25. This guidance reflects a projected net sales decline in the high single-digit range compared to the previous year. The company will outline its strategic vision at an upcoming investor meeting, focusing on strengthening its core business, igniting growth through expanding its global footprint, and transforming its organizational foundation for improved agility.

Victoria’s Secret & Co. will hold an investor day on October 13, 2022, in Chicago, Illinois, where senior leaders will outline the company’s strategic vision post-spinoff. This event marks a significant milestone in the company’s journey as an independent entity. Due to limited space, attendance is by invitation only, but the event will be live-streamed starting at 10:00 AM Eastern on the Company’s website, with a replay available afterward.

Victoria's Secret has launched the 'Undefinable' global campaign on October 3, 2022, featuring prominent figures like Bella Hadid and Adut Akech. This initiative aims to celebrate women's unique perspectives and individuality while encouraging them to share their stories. The campaign reflects the brand's commitment to diversity and aims to redefine beauty standards through authentic representation. It will be showcased in major cities, including New York and Los Angeles, and on various social media platforms, reinforcing the brand's dedication to advocating for women worldwide.

Victoria’s Secret & Co. (NYSE: VSCO) reported a diluted EPS of $0.83 and adjusted EPS of $1.09 for Q2 2022, reflecting a decrease in net income from $151 million in Q2 2021 to $70 million. Net sales fell 6% year-over-year to $1.521 billion, with comparable sales decreasing by 8%. The company announced a share repurchase program of up to $250 million, spending $62 million in Q2. Full-year 2022 net sales are expected to decline in the mid to high single digits, with operating income projected between $525 million and $575 million. Third quarter earnings may range from $0.00 to $0.25.

Victoria's Secret has introduced the inclusive lingerie brand Elomi within its VS&Co-Lab platform, as of August 16, 2022. This partnership aims to promote body positivity and offers a diverse range of lingerie sizes, expanding the options on VictoriasSecret.com to over 100 sizes. Elomi's offerings will include products priced between $20.00 to $76.00. The collaboration aligns with both brands' commitment to support and empower women, reinforcing Elomi's market leadership in full-figure lingerie.

Victoria’s Secret & Co. (NYSE: VSCO) has launched the VS&Co Essentials program, aimed at distributing essential undergarments to over one million women and young adults by 2025. The initiative begins with a donation of nearly one million panties, supporting approximately 140,000 individuals. This effort aligns with the company’s mission to empower women, led in part by a partnership with the nonprofit I Support The Girls, which has experienced a 35% increase in requests for essential items. Future expansions include international donations in 2023.

Victoria’s Secret & Co. (NYSE: VSCO) will hold its second quarter 2022 earnings conference call on August 25, 2022, at 8:00 a.m. ET, following the earnings release on August 24. Interested parties can access the live webcast on the company's website or call in using the provided domestic and international numbers. This call aims to update stakeholders on financial performance and future outlook, emphasizing the brand's commitment to its customer base and workforce.

Victoria's Secret announced the launch of Bare Eau de Parfum, its first fine fragrance in five years, emphasizing individuality and self-expression. The fragrance adapts to the wearer's body chemistry, crafted with upcycled materials and responsibly sourced ingredients. It features a unique blend of musks, with top notes of mandarins, a floral heart of Egyptian violet petals, and a base of Australian sandalwood. Available in stores and online starting July 19, 2022 in the U.S. and August 23, 2022 globally, the fragrance is positioned as Victoria's Secret's most personal scent yet.

Victoria's Secret & Co. (NYSE: VSCO) has announced a new leadership structure aimed at enhancing customer focus and driving growth. The reorganization will merge its three business lines—Victoria's Secret, PINK, and Beauty—into a single collaborative entity. Key leadership appointments include Amy Hauk as CEO for Victoria's Secret and PINK, Chris Rupp as Chief Customer Officer, and Greg Unis as Chief Growth Officer. This restructuring will affect approximately 160 management roles, resulting in an annual cost reduction of about $40 million, while also incurring a non-GAAP charge of around $30 million.