Losses pile up for Victoria's Secret as BofA double downgrades stock [Seeking Alpha]
Victorias Secret & Co. (VSCO)
Company Research
Source: Seeking Alpha
as the “steep” slowdown in sales, secular slowdown in the core lingerie market, and higher expenses leave the company in a much more “problematic” position. The bank also lowered its 2024/2025 profit expectations by 35% and 45%, respectively, to $1.64 and $1.82 given the challenged sales trends and higher-than-expected SG&A expenses. While international is a “bright spot” that continues to grow by more than 20%, the category is too small to compensate for declines in the North American business. There is also additional downside risk to sales should the broader lingerie market continue its shift to less structured, more casual and multi-function bras. “We were previously bullish on the initiatives such as sport market shares reclamation and synergies with Adore Me's technology platform to drive sales in 2024, but now expect benefits to take longer to materialize,” BofA analysts said in Friday's research note. On Wednesday , Victoria's Secret ( VSCO ) shares took a beating afte
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News
- FRAGRANCE ENTHUSIASTS ACROSS THE COUNTRY ARE INVITED TO CAST THEIR VOTE FOR THE 2024 FRAGRANCE FOUNDATION AWARDS CONSUMER CHOICE CATEGORIES [Yahoo! Finance]Yahoo! Finance
- Victoria's Secret Has Potential And Is Directionally Correct, But Wait For Lower Prices [Seeking Alpha]Seeking Alpha
- L Catterton Acquires Majority Stake in KIKO Milano from Percassi Family [Yahoo! Finance]Yahoo! Finance
- Famed MONY tower that inspired hit song sells for a lot less cash than it fetched a decade ago in troubling sign for NYC market [Yahoo! Finance]Yahoo! Finance
- Victoria's Secret & Co. (NYSE: VSCO) is now covered by analysts at The Goldman Sachs Group, Inc.. They set a "sell" rating and a $14.00 price target on the stock.MarketBeat
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