Victorias Secret & Co. - VSCO STOCK NEWS

Victoria’s Secret & Co. (NYSE: VSCO) announced its fourth quarter and full year 2021 results, reporting a net income of $246.1 million for Q4 2021, with diluted earnings per share of $2.70, outperforming previous guidance. However, this represents a decline from $282.4 million in Q4 2020. For the full year, net income was $646.4 million, up from a loss of $72.3 million in 2020. The company initiated a new $250 million share repurchase program following a completed accelerated share repurchase. Looking ahead, Q1 2022 sales are forecasted to decline against Q1 2021, with EPS estimated between $0.70 and $0.95.

Victoria’s Secret has announced a $7 million investment in women-led businesses, partnering with Amplifyher Ventures. This initiative aims to close the ongoing gender funding gap and promote women's leadership in entrepreneurship and investment. By supporting women entrepreneurs, Victoria's Secret seeks to empower a more diverse and successful business landscape, leveraging data that shows women-led companies outperform their male counterparts. The company, with a primarily female workforce, emphasizes its commitment to fostering opportunities for women.

Victoria’s Secret & Co. (NYSE:VSCO) will release its fourth quarter and full fiscal year 2021 earnings on March 2, 2022, after market close. A live webcast of the earnings conference call is scheduled for March 3, 2022, at 8:00 a.m. ET. Interested parties can access the call through the company’s website or via provided dial-in numbers. The press release also notes the company's commitment to women's empowerment and its position as a leading intimate apparel retailer.

Victoria's Secret unveils its new Love Cloud collection on February 17, 2022, featuring bras and panties designed for all-day comfort. This collection is modeled by a diverse group of eighteen women, highlighting the brand's commitment to inclusivity. Priced from $39.50 for bras and $16.50 for panties, the line includes six bra styles and three matching panty styles, emphasizing functionality without sacrificing style. The Love Cloud collection aims to redefine comfort in lingerie, marking a significant step in Victoria's Secret's evolving vision.

Victoria's Secret has announced a joint venture with Regina Miracle International to operate its business in China. Victoria's Secret will own 51% of the JV, with Regina Miracle holding 49%. This partnership aims to enhance product development, distribution, and marketing in the Chinese market. The company anticipates this initiative will have a minimal impact on its fourth quarter earnings. The agreement is subject to regulatory clearance, expected in the first quarter of fiscal 2022, and includes a cash consideration of $45 million from Regina Miracle.

Victoria’s Secret & Co. (NYSE: VSCO) announced a $250 million accelerated share repurchase agreement with Goldman Sachs to buy back shares, signaling confidence in the company's financial health. The initial delivery includes approximately 4.1 million shares, with the final amount based on average stock price adjustments. The company reaffirmed its fourth quarter guidance, projecting sales between flat to 3% above last year's $2.1 billion, operating income of $295-$335 million, and diluted EPS of $2.35 to $2.65. CEO Martin Waters expressed optimism about performance and cash flow stability.

Victoria's Secret has launched the Global Fund for Women's Cancers, aiming to enhance cancer research for women. This initiative includes awarding five female cancer researchers with $100,000 each, recognizing their contributions to the field. The Fund, overseen by the American Association for Cancer Research (AACR), will also establish additional grant programs in 2022 and 2023 to support mid-level and early-stage female investigators. This effort seeks to address the historical underfunding of women's cancers and improve health outcomes for millions diagnosed annually.

Victoria’s Secret reported third-quarter 2021 net income of $75.2 million, or $0.81 per diluted share, exceeding guidance of $0.60 to $0.70. This contrasts with last year's net income of $143.4 million ($1.62 per share). Net sales increased 7% to $1.441 billion, but declined 9% compared to 2019. The company forecasts fourth-quarter sales to be flat to up 3% from $2.100 billion, with EPS projected between $2.35 and $2.65.

Victoria's Secret & Co. (NYSE:VSCO) will host a third quarter 2021 earnings conference call on Thursday, Nov. 18, 2021, at 8:00 a.m. ET. The call will be accessible via victoriassecretandco.com or through dial-in numbers for domestic and international participants.

As the world's largest intimates specialty retailer, Victoria’s Secret emphasizes its commitment to inspiring women globally. However, the company faces risks tied to its recent spin-off from Bath & Body Works, economic conditions, and the ongoing COVID-19 pandemic.