Why Victoria's Secret Stock Plummeted Today
Shares of Victoria's Secret (NYSE: VSCO) plummeted 29.7% on Thursday after the lingerie, clothing, and beauty-products retailer announced reasonably solid quarterly results but followed with underwhelming forward guidance.
For its fiscal fourth quarter ended Feb. 3, 2024, Victoria's Secret's net sales grew 3% year over year, to $2.082 billion, including a comparable-sales decline of 6% (noting that there was an extra week in this fourth quarter, as compared to 2022). On the bottom line, that translated to adjusted (non-GAAP) net income of $204 million, or $2.58 per share. Analysts, on average, were expecting adjusted earnings of $2.46 per share on roughly the same revenue.
Victoria's Secret CEO Martin Waters said weekly sales trends were "volatile" during the quarter but improved in North America on a sequential basis. North America sales were down 3.6% year over year to $1.154 billion, while international sales grew 23.8% to $194.3 million. Victoria's Secret's direct sales channels saw revenue climb 10.1% year over year to $734 million.
Source Fool.com
Waters Corp. Aktie
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