Victoria's Secret Jumps as Sales Decline Moderates [BNN Bloomberg (Canada)]
Victorias Secret & Co. (VSCO)
Company Research
Source: BNN Bloomberg
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections. Net sales were down 3% to 4% in the period, compared with an expected decline of as much as 6%. The company said online sales are outpacing in-store results. Victoria's Secret has been grappling with sagging sales for the better part of the last two years. To attract customers and regain relevance, the retailer rebranded its fashion show and expanded its swim and apparel categories. Chief Executive Officer Martin Waters said that shoppers are liking the new merchandise and sales trends are improving for both the namesake brand and the PINK apparel line. At the same time, Martin cautioned that the North American retail market remains challenging with increased discounting and competition. The company kept its full-year guidance the same despite the relatively upbeat quarter. Shares of Victoria's Secret rose as much as 12
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News
- Victoria's Secret & Co. (NYSE: VSCO) had its price target raised by analysts at JPMorgan Chase & Co. from $15.00 to $16.00. They now have an "underweight" rating on the stock.MarketBeat
- Exclusive: Female athletes are the most effective influencers—and brands like Skims and Nike are reaping the benefits [Fortune]Fortune
- Victoria’s Secret & Co. Invites You to Listen to the First Quarter 2024 Earnings Call WebcastGlobeNewswire
- Struggling Victoria's Secret Returns to Traditional Fashion Show [BNN Bloomberg (Canada)]BNN Bloomberg
- American Eagle joins exodus from San Francisco mall [Yahoo! Finance]Yahoo! Finance
VSCO
Earnings
- 3/6/24 - Beat
VSCO
Sec Filings
- 5/10/24 - Form 8-K
- 5/3/24 - Form ARS
- 5/3/24 - Form DEFA14A
- VSCO's page on the SEC website