Victoria's Secret reports Q3 adjusted loss of US$0.86/share, missing expectations; revenue totaled US$1.27B, down from year-ago revenue of US$1.31B but in line with expectations

Sample article from our Retail & Omnichannel

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 Follow him on Twitter @andrew_kessel

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