Victoria’s Secret & Company ( (VSCO) ) has released its Q3 earnings. Here is a breakdown of the information Victoria’s Secret & Company presented to its investors.
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Victoria’s Secret & Co. is a leading specialty retailer known for its modern, fashion-inspired collections, including bras, panties, lingerie, sleepwear, and more, with a strong emphasis on women’s empowerment through its brands like Victoria’s Secret, PINK, and Adore Me. Reporting a robust third quarter 2024, Victoria’s Secret & Co. has shown sequential improvement in sales for the fifth consecutive quarter, with a 7% increase in net sales compared to the previous year. The company has surpassed expectations, driven by strong growth in North America and over 20% growth internationally, marking the best quarterly sales performance since 2021. The company reported net sales of $1.347 billion for the quarter and a reduced net loss of $56 million, or $0.71 per share, compared to the previous year’s net loss of $71 million. Adjusted metrics showed improvement, with an adjusted net loss of $39 million, better than forecasted. Victoria’s Secret & Co. has raised its full-year outlook, expecting net sales to increase by approximately 1% to 2% and projecting fourth-quarter net sales growth of 2% to 4%. Management remains optimistic about continued momentum through the holiday season, anticipating strong performance driven by product offerings and customer engagement.
