Victoria’s Secret & Co. Announces $250 Million Accelerated Share Repurchase Program
Victorias Secret & Co. (VSCO)
Company Research
Source: GlobeNewswire
REYNOLDSBURG, Ohio, Dec. 29, 2021 (GLOBE NEWSWIRE) -- Victoria’s Secret & Co. (“Victoria’s Secret” or the “Company”) (NYSE: VSCO) today announced that it has entered into an accelerated share repurchase agreement (“ASR”) with Goldman Sachs & Co. LLC (“Goldman Sachs”) to repurchase $250 million of the Company’s common stock. The Company also reaffirmed fourth quarter sales, operating income and earnings guidance. Under the ASR, the Company will make an initial payment of $250 million to Goldman Sachs and will receive an initial delivery of approximately 4.1 million shares of the Company’s common stock on December 31, 2021. The final number of shares to be repurchased will be based on the volume-weighted average price of the Company’s common stock during the term of the ASR less a discount and subject to adjustments pursuant to the terms of the ASR. The final settlement of the ASR is expected to be completed in the first quarter of 2022. The Company reaffirmed the fourth
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VSCO
Earnings
- 3/6/24 - Beat
VSCO
Sec Filings
- 4/22/24 - Form PRE
- 3/22/24 - Form 4
- 3/22/24 - Form 10-K
- VSCO's page on the SEC website