On Friday, Victoria’s Secret & Co. surged to its highest level in over two years, indicating that the biggest US lingerie manufacturer’s recovery is gathering momentum. Victoria’s Secret stock increased by up to 13%, reaching its highest point since May 2022, before reversing part of the gains. Through Thursday’s closing, the stock had already gained 62% this year, more than three times the growth of the Russell 2000 Index. This advance adds to that gain.
The forecast, which called for a 1% decline, was more optimistic than the last one. Adjusted operating income is predicted to reach $345 million annually, a 15% increase over the company’s prior estimates this year. Additionally, the business said that its third-quarter sales exceeded Wall Street forecasts and that early consumer reaction to its holiday items was favorable.
Victoria’s Secret Q3 Results Detail
Victoria’s Secret announced an adjusted loss of 50 cents per share, which was less than the 64 cent loss predicted by the Zacks Consensus Estimate. The corporation posted an adjusted loss per share of 86 cents in the previous year’s quarter. Year-over-year, net sales increased 6.5% to $1,347.4 million. Additionally, the figure above the $1,289 million Zacks Consensus Estimate. On an annual basis, the company’s comparable sales climbed by 3%.
VSCO’s North American channel generated $738.1 million in net sales, a 2.1% increase from the previous year. Net sales from the direct channel increased 7.5% to $411 million. International channel net sales reached $198.3 million, a 24.2% year-over-year increase.
About the company
Victoria’s Secret & Co. (NYSE: VSCO) is a specialty retailer of contemporary, fashion-forward collections that include award-winning premium fragrances and body care products, as well as signature bras, panties, lingerie, casual sleepwear, athleisure, and swimwear.
Adore Me, a technology-led, digital-first, innovative intimates brand catering to women of all sizes and budgets at all stages of life, and market-leading brands Victoria’s Secret and Pink, who have as their shared mission supporting women in all they do, make up VS&Co. We are dedicated to empowering our over 30,000 employees throughout our global network of 1,380 retail locations in almost 70 countries.
