Victoria’s Secret & Co. Reports Fourth Quarter 2024 Results
Victoria's Secret & Co. (VSCO) reported strong fourth quarter 2024 results with a 5% increase in comparable sales. Net sales reached $2.106 billion, up 1% from Q4 2023, while net income rose to $193 million ($2.33 per diluted share).
The company saw growth across Victoria's Secret and PINK brands, with sales increases in most merchandise categories, stores, digital channels, and both North America and International businesses. Q4 adjusted operating income was $299 million, compared to $283 million in Q4 2023.
For fiscal year 2024, VSCO reported net sales of $6.230 billion, a 1% increase from 2023, with net income of $165 million ($2.05 per diluted share). Looking ahead to 2025, the company forecasts first quarter net sales between $1.30-1.33 billion and full-year net sales of $6.2-6.3 billion, acknowledging near-term headwinds and macro environment uncertainty.
Victoria's Secret & Co. (VSCO) ha riportato risultati solidi per il quarto trimestre del 2024, con un aumento del 5% nelle vendite comparabili. Le vendite nette hanno raggiunto 2,106 miliardi di dollari, in aumento dell'1% rispetto al Q4 2023, mentre il reddito netto è salito a 193 milioni di dollari (2,33 dollari per azione diluita).
L'azienda ha registrato una crescita sia per i marchi Victoria's Secret che PINK, con aumenti delle vendite nella maggior parte delle categorie merceologiche, nei negozi, nei canali digitali e sia per il mercato nordamericano che internazionale. Il reddito operativo rettificato del Q4 è stato di 299 milioni di dollari, rispetto ai 283 milioni di dollari nel Q4 2023.
Per l'anno fiscale 2024, VSCO ha riportato vendite nette di 6,230 miliardi di dollari, un aumento dell'1% rispetto al 2023, con un reddito netto di 165 milioni di dollari (2,05 dollari per azione diluita). Guardando al 2025, l'azienda prevede vendite nette nel primo trimestre comprese tra 1,30 e 1,33 miliardi di dollari e vendite nette per l'intero anno comprese tra 6,2 e 6,3 miliardi di dollari, riconoscendo le difficoltà a breve termine e l'incertezza dell'ambiente macroeconomico.
Victoria's Secret & Co. (VSCO) reportó resultados sólidos para el cuarto trimestre de 2024, con un aumento del 5% en las ventas comparables. Las ventas netas alcanzaron 2.106 millones de dólares, un incremento del 1% respecto al Q4 2023, mientras que el ingreso neto aumentó a 193 millones de dólares (2,33 dólares por acción diluida).
La compañía vio crecimiento en las marcas Victoria's Secret y PINK, con aumentos en las ventas en la mayoría de las categorías de productos, tiendas, canales digitales y tanto en negocios de América del Norte como internacionales. El ingreso operativo ajustado del Q4 fue de 299 millones de dólares, en comparación con 283 millones de dólares en el Q4 2023.
Para el año fiscal 2024, VSCO reportó ventas netas de 6.230 millones de dólares, un aumento del 1% respecto a 2023, con un ingreso neto de 165 millones de dólares (2,05 dólares por acción diluida). Mirando hacia 2025, la compañía pronostica ventas netas en el primer trimestre entre 1,30 y 1,33 mil millones de dólares y ventas netas anuales de 6,2 a 6,3 mil millones de dólares, reconociendo los vientos en contra a corto plazo y la incertidumbre del entorno macroeconómico.
빅토리아 시크릿 & Co. (VSCO)는 2024년 4분기 강력한 실적을 보고하며, 비교 가능한 매출이 5% 증가했다고 발표했습니다. 순매출은 21억 6천만 달러에 달했으며, 이는 2023년 4분기 대비 1% 증가한 수치입니다. 순이익은 1억 9천3백만 달러로 증가했으며 (희석 주당 2.33달러)입니다.
회사는 빅토리아 시크릿과 PINK 브랜드 전반에서 성장세를 보였으며, 대부분의 상품 카테고리, 매장, 디지털 채널, 북미 및 국제 비즈니스 모두에서 매출이 증가했습니다. 4분기 조정 운영 수익은 2억 9천9백만 달러로, 2023년 4분기의 2억 8천3백만 달러와 비교됩니다.
2024 회계연도에 대해 VSCO는 순매출이 62억 3천만 달러로, 2023년 대비 1% 증가했으며, 순이익은 1억 6천5백만 달러 (희석 주당 2.05달러)로 보고했습니다. 2025년을 바라보며, 회사는 1분기 순매출이 13억에서 13억 3천만 달러 사이가 될 것으로 예상하며, 연간 순매출은 62억에서 63억 달러 사이로 예상하고 있으며, 단기적인 어려움과 거시경제 환경의 불확실성을 인식하고 있습니다.
Victoria's Secret & Co. (VSCO) a annoncé de solides résultats pour le quatrième trimestre 2024, avec une augmentation de 5 % des ventes comparables. Les ventes nettes ont atteint 2,106 milliards de dollars, en hausse de 1 % par rapport au Q4 2023, tandis que le bénéfice net a grimpé à 193 millions de dollars (2,33 dollars par action diluée).
L'entreprise a connu une croissance à travers les marques Victoria's Secret et PINK, avec des augmentations de ventes dans la plupart des catégories de produits, des magasins, des canaux numériques, ainsi que pour les activités en Amérique du Nord et à l'international. Le résultat d'exploitation ajusté du Q4 était de 299 millions de dollars, contre 283 millions de dollars au Q4 2023.
Pour l'exercice fiscal 2024, VSCO a rapporté des ventes nettes de 6,230 milliards de dollars, soit une augmentation de 1 % par rapport à 2023, avec un bénéfice net de 165 millions de dollars (2,05 dollars par action diluée). En se tournant vers 2025, l'entreprise prévoit des ventes nettes pour le premier trimestre entre 1,30 et 1,33 milliard de dollars et des ventes nettes sur l'année entière entre 6,2 et 6,3 milliards de dollars, reconnaissant les vents contraires à court terme et l'incertitude de l'environnement macroéconomique.
Victoria's Secret & Co. (VSCO) hat für das vierte Quartal 2024 starke Ergebnisse gemeldet, mit einem Anstieg der vergleichbaren Verkaufszahlen um 5%. Der Nettoumsatz erreichte 2,106 Milliarden Dollar, was einem Anstieg von 1% im Vergleich zum Q4 2023 entspricht, während der Nettogewinn auf 193 Millionen Dollar (2,33 Dollar pro verwässerter Aktie) stieg.
Das Unternehmen verzeichnete ein Wachstum in den Marken Victoria's Secret und PINK, mit Verkaufssteigerungen in den meisten Warengruppen, Geschäften, digitalen Kanälen sowie in Nordamerika und internationalen Geschäften. Der bereinigte Betriebsgewinn im Q4 betrug 299 Millionen Dollar, verglichen mit 283 Millionen Dollar im Q4 2023.
Für das Geschäftsjahr 2024 meldete VSCO Nettoumsätze von 6,230 Milliarden Dollar, was einem Anstieg von 1% im Vergleich zu 2023 entspricht, mit einem Nettogewinn von 165 Millionen Dollar (2,05 Dollar pro verwässerter Aktie). Für 2025 prognostiziert das Unternehmen Nettoumsätze im ersten Quartal zwischen 1,30 und 1,33 Milliarden Dollar sowie Nettoumsätze für das gesamte Jahr zwischen 6,2 und 6,3 Milliarden Dollar und erkennt kurzfristige Herausforderungen sowie Unsicherheiten im makroökonomischen Umfeld an.
- Q4 comparable sales increased 5%
- Q4 net income rose to $193M from $181M YoY
- Q4 adjusted operating income grew to $299M from $283M
- Sales growth across most merchandise categories
- Full year 2024 net income increased to $165M from $109M
- Q1 2025 sales guidance shows decline vs Q1 2024 ($1.30-1.33B vs $1.359B)
- Facing near-term headwinds and macro uncertainty
- Unseasonal weather creating additional headwind
- Full year 2024 comparable sales were flat
Insights
Victoria's Secret's Q4 results demonstrate resilience in a challenging retail environment, with
Digging deeper, the company's performance reflects successful holiday execution across merchandise categories and channels. A
For the full year, Victoria's Secret delivered
The forward guidance reveals caution, however. Q1 2025 revenue is projected at
Victoria's Secret is effectively balancing growth initiatives against macro pressures, with strong inventory management in a promotional environment. The balance of positive recent results against conservative forward guidance makes this a neutral catalyst for investors.
Fourth quarter comparable sales increase
Operating Income and EPS exceed expectations
Provides initial full year and first quarter 2025 guidance
REYNOLDSBURG, Ohio, March 05, 2025 (GLOBE NEWSWIRE) -- Victoria’s Secret & Co. (“VS&Co” or the “Company”) (NYSE: VSCO) today reported financial results for the fourth quarter and fiscal year ended February 1, 2025.
“I am pleased with the strength of our fourth quarter holiday results, which saw sales up in both our Victoria’s Secret and PINK brands and our powerhouse Beauty business. Sales increased across most major merchandise categories, in our stores and digital channels, and in both our North America and International businesses. We won in the big moments of the quarter and gained more than our fair share of the traffic in the mall and online. The teams focused on execution and drove healthy margins, controlled costs, and managed inventory levels extremely well in a highly competitive and promotional holiday environment,” said VS&Co CEO Hillary Super.
“During the holiday season we clearly connected emotionally with our customer through our merchandise offering of the accessible luxuries she loves. After my first holiday season with the business, I continue to be optimistic about our future, our opportunity to further differentiate the brands with compelling storytelling and make even deeper emotional connections with our customers. As we look forward to 2025 and the future, we recognize there are near-term headwinds and ongoing uncertainty in the macro environment which we will manage aggressively while also working to build upon our solid foundation, realize the full potential of our brands and drive long-term, sustainable growth.”
Fourth Quarter 2024 Results
The Company reported net sales of
The Company reported net income of
Excluding the impact of the items described at the conclusion of this press release, adjusted net income for the 13-week fourth quarter of 2024 was
In addition to the items described at the conclusion of this press release, in the fourth quarter of 2024 the Company recorded a change in its accounting estimate relating to expected future redemption on outstanding gift cards issued by the Company. As a result of this change in accounting estimate, the Company recognized a cumulative adjustment which increased net sales, gross margin, and operating income by approximately
Excluding the impact from the change in accounting estimate relating to outstanding gift cards, fourth quarter 2024 net sales increased approximately
As a reminder, the Company estimated the extra week in the fourth quarter of 2023 represented approximately
Full Year 2024 Results
The Company reported net sales of
The Company reported net income of
Excluding the impact of the items described at the conclusion of this press release, adjusted net income for the 52-week fiscal year 2024 was
Excluding the impact from the change in accounting estimate relating to outstanding gift cards, fiscal year 2024 net sales increased approximately
Full Year and First Quarter 2025 Outlook
As we begin the new year, we recognize the macro environment is uncertain and consumer confidence has shifted. In addition, much of the U.S. experienced unseasonal weather creating an additional headwind to start the year, which is considered in our guidance for the first quarter. The Company is forecasting net sales for the first quarter of 2025 to be in the range of
Looking ahead, our forecast assumes that the environment will gradually get better as we move through the year and as we execute on our strategies designed to grow sales in both our North America and International businesses. The Company is forecasting fiscal year 2025 net sales to be in the range of
Forecasted adjusted operating income for the first quarter and full year 2025 excludes the financial impact of purchase accounting items related to the Adore Me acquisition, including expense (income) related to changes in the estimated fair value of contingent consideration and performance-based payments, as well as the amortization of intangible assets. The Company is not able to provide a reconciliation of forward-looking adjusted operating income to the most directly comparable forward-looking GAAP financial measures because the Company is unable to provide a meaningful or accurate reconciliation or estimation of certain reconciling items without unreasonable effort, due to the inherent difficulty in forecasting the timing of, and quantifying, the various purchase accounting items that are necessary for such reconciliation.
Quarterly Earnings Conference Call
Victoria’s Secret & Co. will conduct its fourth quarter earnings call at 8:00 a.m. Eastern on Thursday, March 6, 2025. To listen, call 1-800-619-9066 (international dial-in number: 1-212-519-0836); passcode 5358727. For an audio replay, call 1-800-819-5743 (international replay number: 1-203-369-3828); passcode 2485654 or log onto www.victoriassecretandco.com. The materials accompanying the earnings call have been posted on the Investors section of the Company’s website. The audio replay will be available approximately two hours after the conclusion of the call.
About Victoria’s Secret & Co.
Victoria’s Secret & Co. (NYSE: VSCO) is a specialty retailer of modern, fashion-inspired collections including signature bras, panties, lingerie, apparel, casual sleepwear, swim, lounge and sport as well as award-winning prestige fragrances and body care. VS&Co is comprised of market leading brands, Victoria’s Secret and PINK, that share a common purpose of supporting women in all they do, and Adore Me, a technology-led, digital first innovative intimates brand serving women of all sizes and budgets at all phases of life. We are committed to empowering our more than 30,000 associates across a global footprint of more than 1,380 retail stores in nearly 70 countries.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this press release or made by us, our management, or our spokespeople involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements, and any future performance or financial results expressed or implied by such forward-looking statements are not guarantees of future performance. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. Words such as “estimate,” “commit,” “will,” “target,” “goal,” “project,” “plan,” “believe,” “seek,” “strive,” “expect,” “anticipate,” “intend,” “continue,” “potential” and any similar expressions are intended to identify forward-looking statements. Risks associated with the following factors, among others, could affect our results of operations and financial performance and cause actual results to differ materially from those expressed or implied in any forward-looking statements:
- general economic conditions, inflation, and changes in consumer confidence and consumer spending patterns;
- market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises or other major events, or the prospect of these events;
- uncertainty in the global trade environment, including the imposition or threatened imposition of tariffs or other trade restrictions;
- our ability to successfully implement our strategic plan;
- difficulties arising from changes and turnover in company leadership or other key positions;
- our ability to attract, develop and retain qualified associates and manage labor-related costs;
- our dependence on traffic to our stores and the availability of suitable store locations on satisfactory terms;
- our ability to successfully operate and expand internationally and related risks;
- the operations and performance of our franchisees, licensees, wholesalers and joint venture partners;
- our ability to successfully operate and grow our direct channel business;
- our ability to protect our reputation and the image and value of our brands;
- our ability to attract customers with marketing, advertising and promotional programs;
- the highly competitive nature of the retail industry and the segments in which we operate;
- consumer acceptance of our products and our ability to manage the life cycle of our brands, remain current with fashion trends, and develop and launch new merchandise, product lines and brands successfully;
- our ability to integrate acquired businesses and realize the benefits and synergies sought with such acquisitions;
- our ability to incorporate artificial intelligence into our business operations successfully and ethically while effectively managing the associated risks;
- our ability to source materials and produce, distribute and sell merchandise on a global basis, including risks related to:
- political instability and geopolitical conflicts;
- environmental hazards and natural disasters;
- significant health hazards and pandemics;
- delays or disruptions in shipping and transportation and related pricing impacts; and
- disruption due to labor disputes;
- our geographic concentration of production and distribution facilities in central Ohio and Southeast Asia;
- the ability of our vendors to manufacture and deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations;
- fluctuations in freight, product input and energy costs;
- our and our third-party service providers’ ability to implement and maintain information technology systems and to protect associated data and system availability;
- our ability to maintain the security of customer, associate, third-party and company information;
- stock price volatility;
- shareholder activism matters;
- our ability to maintain our credit rating;
- our ability to comply with regulatory requirements; and
- legal, tax, trade and other regulatory matters.
Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in “Item 1A. Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 22, 2024.
For further information, please contact:
| Victoria’s Secret & Co.: | |
| Investor Relations: Kevin Wynk investorrelations@victoria.com | Media Relations: Brooke Wilson communications@victoria.com |
| Total Net Sales (Millions): | |||||||||||||||||
| Fourth Quarter 2024 | Fourth Quarter 2023 | % Inc/ (Dec) | Full Year 2024 | Full Year 2023 | % Inc/ (Dec) | ||||||||||||
| Stores – North America | $ | 1,160.1 | $ | 1,154.2 | 0.5 | % | $ | 3,427.3 | $ | 3,480.2 | (1.5 | %) | |||||
| Direct | 752.2 | 734.0 | 2.5 | % | 2,042.2 | 2,014.8 | 1.4 | % | |||||||||
| International1 | 193.2 | 194.3 | (0.6 | %) | 760.1 | 686.8 | 10.7 | % | |||||||||
| Total | $ | 2,105.5 | $ | 2,082.5 | 1.1 | % | $ | 6,229.6 | $ | 6,181.8 | 0.8 | % | |||||
| 1 – Results include consolidated joint venture sales in China, royalties associated with franchised stores and wholesale sales. | |||||||||||||||||
| Comparable Sales Increase (Decrease): | |||||||||||
| Fourth Quarter 2024 | Fourth Quarter 2023 | Full Year 2024 | Full Year 2023 | ||||||||
| Stores and Direct1 | ( | ( | |||||||||
| Stores Only2 | ( | ( | ( | ||||||||
| NOTE: Please refer to our filings with the Securities and Exchange Commission for further discussion regarding our comparable sales calculation. 1 – Results include company-operated stores in the U.S. and Canada, consolidated joint venture stores in China and direct sales. 2 – Results include company-operated stores in the U.S. and Canada and consolidated joint venture stores in China. | |||||||||||
| Total Stores: | |||||||||||
| Stores at 2/3/24 | Opened | Closed | Stores at 2/1/25 | ||||||||
| Company-Operated: | |||||||||||
| U.S. | 808 | 16 | (42) | 782 | |||||||
| Canada | 23 | 1 | - | 24 | |||||||
| Subtotal Company-Operated | 831 | 17 | (42) | 806 | |||||||
| China Joint Venture: | |||||||||||
| Beauty & Accessories1 | 34 | 3 | (7) | 30 | |||||||
| Full Assortment | 36 | 4 | - | 40 | |||||||
| Subtotal China Joint Venture | 70 | 7 | (7) | 70 | |||||||
| Partner-Operated: | |||||||||||
| Beauty & Accessories | 307 | 30 | (13) | 324 | |||||||
| Full Assortment | 156 | 30 | (5) | 181 | |||||||
| Subtotal Partner-Operated | 463 | 60 | (18) | 505 | |||||||
| Adore Me | 6 | - | - | 6 | |||||||
| Total | 1,370 | 84 | (67) | 1,387 | |||||||
| 1 – Includes thirteen partner-operated stores at 2/1/25. | |||||||||||
| VICTORIA'S SECRET & CO. | |||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||
| THIRTEEN WEEKS ENDED FEBRUARY 1, 2025 AND FOURTEEN WEEKS ENDED FEBRUARY 3, 2024 | |||||||
| (Unaudited) | |||||||
| (In thousands except per share amounts) | |||||||
| 2024 | 2023 | ||||||
| Net Sales | $ | 2,105,501 | $ | 2,082,452 | |||
| Costs of Goods Sold, Buying and Occupancy | (1,292,068 | ) | (1,256,611 | ) | |||
| Gross Profit | 813,433 | 825,841 | |||||
| General, Administrative and Store Operating Expenses | (545,747 | ) | (567,475 | ) | |||
| Operating Income | 267,686 | 258,366 | |||||
| Interest Expense | (20,147 | ) | (26,586 | ) | |||
| Other Income (Loss) | (3,258 | ) | 956 | ||||
| Income Before Income Taxes | 244,281 | 232,736 | |||||
| Provision for Income Taxes | 50,363 | 49,200 | |||||
| Net Income | 193,918 | 183,536 | |||||
| Less: Net Income Attributable to Noncontrolling Interest | 506 | 2,449 | |||||
| Net Income Attributable to Victoria's Secret & Co. | $ | 193,412 | $ | 181,087 | |||
| Net Income Per Diluted Share Attributable to Victoria's Secret & Co. | $ | 2.33 | $ | 2.29 | |||
| Weighted Average Shares Outstanding | 83,148 | 78,909 | |||||
| VICTORIA'S SECRET & CO. | |||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||
| FIFTY-TWO WEEKS ENDED FEBRUARY 1, 2025 AND FIFTY-THREE WEEKS ENDED FEBRUARY 3, 2024 | |||||||
| (Unaudited) | |||||||
| (In thousands except per share amounts) | |||||||
| 2024 | 2023 | ||||||
| Net Sales | $ | 6,229,560 | $ | 6,181,790 | |||
| Costs of Goods Sold, Buying and Occupancy | (3,945,159 | ) | (3,939,607 | ) | |||
| Gross Profit | 2,284,401 | 2,242,183 | |||||
| General, Administrative and Store Operating Expenses | (1,974,800 | ) | (1,996,617 | ) | |||
| Operating Income | 309,601 | 245,566 | |||||
| Interest Expense | (85,678 | ) | (99,363 | ) | |||
| Other Income (Loss) | (2,920 | ) | 1,184 | ||||
| Income Before Income Taxes | 221,003 | 147,387 | |||||
| Provision for Income Taxes | 52,178 | 31,582 | |||||
| Net Income | 168,825 | 115,805 | |||||
| Less: Net Income Attributable to Noncontrolling Interest | 3,481 | 6,605 | |||||
| Net Income Attributable to Victoria's Secret & Co. | $ | 165,344 | $ | 109,200 | |||
| Net Income Per Diluted Share Attributable to Victoria's Secret & Co. | $ | 2.05 | $ | 1.39 | |||
| Weighted Average Shares Outstanding | 80,726 | 78,554 | |||||
| VICTORIA'S SECRET & CO. | ||||||||||||||||||
| NON-GAAP FINANCIAL INFORMATION | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||
| (In thousands except per share amounts) | ||||||||||||||||||
| In addition to our results provided in accordance with GAAP, provided below are non-GAAP financial measures that present operating income, net income attributable to Victoria's Secret & Co. and net income per diluted share attributable to Victoria's Secret & Co. on an adjusted basis, which remove certain non-recurring, infrequent or unusual items that we believe are not indicative of the results of our ongoing operations due to their size and nature. The intangible asset amortization excluded from these non-GAAP financial measures is excluded because the amortization, unlike the related revenue, is not affected by operations of any particular period unless an intangible asset becomes impaired or the estimated useful life of an intangible asset is revised. We use adjusted financial information as key performance measures of our results of operations for the purpose of evaluating performance internally. These non-GAAP measurements are not intended to replace the presentation of our financial results in accordance with GAAP. Instead, we believe that the presentation of adjusted financial information provides additional information to investors to facilitate the comparison of past and present operations. Further, our definition of non-GAAP financial measures may differ from similarly titled measures used by other companies. The table below reconciles the most directly comparable GAAP financial measure to each non-GAAP financial measure. | ||||||||||||||||||
| Fourth Quarter | Year-to-Date | |||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||
| Reconciliation of Reported to Adjusted Operating Income | ||||||||||||||||||
| Reported Operating Income - GAAP | $ | 267,686 | $ | 258,366 | $ | 309,601 | $ | 245,566 | ||||||||||
| Adore Me Acquisition-related Items (a) | 3,714 | 18,775 | 4,238 | 45,036 | ||||||||||||||
| Amortization of Intangible Assets (b) | 6,284 | 6,284 | 25,136 | 25,136 | ||||||||||||||
| Equity Method Investment Impairment and Other Charges (c) | 21,614 | - | 21,614 | - | ||||||||||||||
| Restructuring Charges (d) | - | - | 12,548 | 11,125 | ||||||||||||||
| Adjusted Operating Income | $ | 299,298 | $ | 283,425 | $ | 373,137 | $ | 326,863 | ||||||||||
| Reconciliation of Reported to Adjusted Net Income Attributable to Victoria's Secret & Co. | ||||||||||||||||||
| Reported Net Income Attributable to Victoria's Secret & Co. - GAAP | $ | 193,412 | $ | 181,087 | $ | 165,344 | $ | 109,200 | ||||||||||
| Adore Me Acquisition-related Items (a) | 4,944 | 19,954 | 9,244 | 49,500 | ||||||||||||||
| Amortization of Intangible Assets (b) | 6,284 | 6,284 | 25,136 | 25,136 | ||||||||||||||
| Equity Method Investment Impairment and Other Charges (c) | 21,614 | - | 21,614 | - | ||||||||||||||
| Restructuring Charges (d) | - | - | 12,548 | 11,125 | ||||||||||||||
| Tax Effect of Adjusted Items | (9,826 | ) | (3,745 | ) | (16,359 | ) | (16,879 | ) | ||||||||||
| Adjusted Net Income Attributable to Victoria's Secret & Co. | $ | 216,428 | $ | 203,580 | $ | 217,527 | $ | 178,082 | ||||||||||
| Reconciliation of Reported to Adjusted Net Income Per Diluted Share Attributable to Victoria's Secret & Co. | ||||||||||||||||||
| Reported Net Income Per Diluted Share Attributable to Victoria's Secret & Co. - GAAP | $ | 2.33 | $ | 2.29 | $ | 2.05 | $ | 1.39 | ||||||||||
| Adore Me Acquisition-related Items (a) | 0.02 | 0.23 | 0.08 | 0.53 | ||||||||||||||
| Amortization of Intangible Assets (b) | 0.06 | 0.06 | 0.23 | 0.24 | ||||||||||||||
| Equity Method Investment Impairment and Other Charges (c) | 0.20 | - | 0.21 | - | ||||||||||||||
| Restructuring Charges (d) | - | - | 0.13 | 0.11 | ||||||||||||||
| Adjusted Net Income Per Diluted Share Attributable to Victoria's Secret & Co. | $ | 2.60 | $ | 2.58 | $ | 2.69 | $ | 2.27 | ||||||||||
| (a) | In the fourth quarter of 2024 and 2023, we recognized pre-tax expense of |
| (b) | In both the fourth quarter of 2024 and 2023, we recognized amortization expense of |
| (c) | In the fourth quarter of 2024, we recognized pre-tax expense of |
| (d) | In the third quarter of 2024, we recognized a pre-tax charge of |
FAQ
What were Victoria's Secret (VSCO) Q4 2024 comparable sales growth?
How much did Victoria's Secret (VSCO) earn in Q4 2024?
What is Victoria's Secret (VSCO) full-year 2025 sales guidance?
What is Victoria's Secret (VSCO) Q1 2025 financial outlook?
How did Victoria's Secret (VSCO) perform in fiscal year 2024?
