Victorias Secret & Co. - VSCO STOCK NEWS

Victoria’s Secret & Co. (NYSE: VSCO) reported first quarter 2022 results with a net income of $80.8 million, or $0.93 per diluted share, compared to $174 million, or $1.97 per share last year. Adjusted earnings were $1.11 per share, exceeding guidance. Sales declined 4.5% year-over-year to $1.484 billion, while comparable sales decreased 8%. The company returned $110 million to shareholders via share repurchases. Looking ahead, second quarter sales are projected to range from a slight increase to a decrease, with earnings expected between $0.95 and $1.25 per diluted share.

Victoria’s Secret & Co. (NYSE: VSCO) announced the election of Mariam Naficy to its Board of Directors during the 2022 Annual Meeting of Shareholders. Naficy boasts over 20 years of experience in digital and direct-to-consumer retailing, co-founding Minted in 2007 and leading its growth. The Board now includes eight directors, seven of whom are women and independent. Board Chair Donna James emphasized Naficy's entrepreneur expertise as crucial for the company's transformation efforts. Naficy expressed excitement about contributing to the brand’s purpose-driven vision.

Victoria’s Secret & Co. has launched VS&Co-Lab, a curated digital platform aimed at promoting unique brands, particularly those led by women. The platform, now live on VictoriasSecret.com, features a collection of 19 brands, with 75% being women-owned. CEO Martin Waters emphasized the potential for growth through partnerships with innovative brands. The initiative seeks to enhance consumer engagement and drive economic empowerment for women and people of color.

Victoria's Secret & Co. (NYSE:VSCO) is set to release its first quarter 2022 earnings on May 31, 2022, after market close. A live conference call will occur on June 1, 2022, at 8:00 a.m. ET, providing insights into the company's financial performance. Investors and analysts can join the call through the company’s website or via a dedicated phone line. This earnings report is crucial for understanding the company's operational status post spin-off from Bath & Body Works, especially in the context of current economic conditions.

Victoria's Secret & Co. (NYSE: VSCO) has expanded its beauty product range by launching approximately 120 best-selling items on Amazon. This move is expected to enhance customer accessibility, with products eligible for fast delivery through Amazon Prime. The launch builds on the ongoing success of VSCO's beauty category, aiming to deepen consumer connections. Key products include signature fragrances and body care items. The company aims to meet consumer demand for beauty products on Amazon, reinforcing its commitment to innovation and customer engagement.

Victoria's Secret launched a new campaign for its best-selling Bombshell fragrance, featuring Camila Cabello in the brand's first bilingual initiative. This campaign, captured by Zoey Grossman, emphasizes celebrating individuality and confidence. Alongside the campaign, the company will host 'The Bombshell Gardens' pop-up in New York City from May 3 to May 9, offering immersive experiences related to the fragrance. Bombshell is known for its blend of fresh-cut peonies and exotic fruits, enhancing Victoria's Secret's status as America's leading fragrance brand.

Victoria's Secret & Co. (NYSE: VSCO) has launched Happy Nation, a fully digital brand targeting tweens aged 8-13. The brand focuses on size-inclusive and gender-free products such as sweats, swimwear, bras, and body care, aiming to create a supportive community. Happy Nation will not have brick-and-mortar stores initially but will integrate with a popular youth gaming platform, marking VSCO's first entry into the metaverse. The brand emphasizes three core values: empowerment, community connection, and sustainability.

Victoria's Secret, in partnership with Pelotonia, awarded $100,000 each to five female cancer researchers during the AACR Annual Meeting. This marks the inaugural presentation of the Global Fund for Women’s Cancers, which will allocate $5 million annually to support research in women's cancers, building on over $21 million previously funded since 2011. The awardees were recognized for their significant contributions to the understanding and treatment of women’s cancers. The Fund aims to enhance collaboration and mentorship among women in cancer research.

Victoria's Secret & Co. (NYSE: VSCO) announced a joint venture with Regina Miracle International (HKG: 2199) to operate its stores and online business in China. Victoria's Secret will hold a 51% stake while Regina Miracle will own 49%. The company received $45 million from Regina Miracle as part of this deal. CEO Martin Waters expressed confidence that the partnership will spur growth by leveraging Regina Miracle's market expertise. The company does not expect this transaction to materially affect its financial guidance for Q1 fiscal 2022.