November 30, 2023
(press release)
–
Victoria's Secret & Co. (NYSE:VSCO) stock slid after hours Wednesday after the company posted a wider-than-expected third-quarter loss. The clothing retailer posted an adjusted loss of $0.86 per share, compared to a $0.78 per share loss expected by analysts. Revenue was $1.27 billion, down from $1.31 billion a year earlier and in line with expectations. “We delivered third-quarter results within our guidance range, and we are encouraged by the improving sales trend as we transition into the all-important holiday season,” CEO Martin Waters said in a statement. “Our sales trend in North America continued to improve as planned each month throughout the third quarter with October being our strongest month. Looking ahead, Victoria’s Secret guided for fourth-quarter earnings between $2.20 and $2.60 per share, compared to analyst expectations of $2.44 per share. Shares of the company popped 5.6% during the Wednesday ahead of the earnings release but have slid 1.4% in the aftermath. Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com Follow him on Twitter @andrew_kessel
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
