Victoria’s Secret beats on revenue forecast, whereas income meets expectations By Investing.com

© Reuters.

By Liz Moyer

Investing.com — Victoria’s Secret & Co (NYSE:) reported fourth-quarter beat on revenue expectations and met income expectations for the latest quarter.

Earnings per share of 29 cents have been increased than the estimate of twenty-two cents. got here in at $1.32 billion versus the consensus estimate of $1.32B. Comparable gross sales fell 11% from the identical quarter final yr.

Shares of the retailer fell 3.7% in after-hours buying and selling. They’re down 17% thus far this yr.

“We’re properly positioned to proceed to navigate and execute in a shifting shopper panorama,” stated CEO Martin Waters.

The corporate forecast fourth-quarter web gross sales to be down within the excessive single-digits from final yr’s fourth quarter, whereas working earnings for the quarter is anticipated to be within the vary of $240 million to $290M. Web earnings for the fourth quarter 2022 is estimated to be within the vary of $2.00 to $2.45 a share, the corporate stated.  

Full-year 2022 web gross sales are forecast to fall 6% to 7%, whereas adjusted working earnings is anticipated to be within the vary of $525M to $575M, or roughly 8% to 9% of gross sales, the corporate stated. Adjusted web earnings for the complete yr 2022 is estimated to be within the vary of $4.50 to $4.95 a share.

Victoria’s Secret Co’s inventory worth closed at $46.00. It’s up 40.42% within the final 3 months and down -11.4% within the final 12 months.