Victoria's Secret Clocks 9% Sales Decline In Q3, Misses Street View By A Whisker

  • Victoria’s Secret & Co VSCO reported a third-quarter FY22 sales decline of 9% year-on-year to $1.318 billion, marginally missing the consensus of $1.32 billion.
  • Comparable sales decreased 11% for Stores and Direct.
  • Gross profit fell 19% to $457.4 million, with a margin of 34.7%.
  • Operating margin was 3.2%, and operating income for the quarter declined 60.5% to $42.6 million.
  • The company had a 1,351 store count as of October 29, 2022, versus 1,362 stores on January 29, 2022.
  • EPS of $0.29 beat the analyst consensus of $0.23.
  • Outlook: Victoria’s Secret sees Q4 sales to decrease in the high-single digit range. It expects Q4 EPS of $2.00 - $2.45 versus the consensus of $2.32.
  • It sees FY22 sales to decrease 6% - 7%
  • The company expects FY22 adjusted EPS of $4.50 - $4.95 against an estimate of $4.73.
  • Price Action: VSCO shares are trading lower by 4.33% at $44.01 in premarket on the last check Thursday.
  • Photo Via Wikimedia Commons
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!