Victoria’s Secret Reports Quarterly Results

Victoria’s Secret & Co.'s stock (VSCO) showed a 2% increase in after-hours trading on Wednesday following the release of their quarterly financial results. The company reported a net loss of $71.2 million, or 92 cents a share, for the fiscal-third-quarter. This is in contrast to a net income of $24.4 million, or 29 cents a share, during the same quarter last year. The adjusted net loss for the quarter was $66 million, or 86 cents per diluted share. Net sales also saw a decline, amounting to $1.27 billion compared to $1.31 billion a year ago.

Analyst Expectations

Analysts surveyed by FactSet had predicted an average net loss of 78 cents per share on revenue of $1.27 billion. The company's performance was slightly below these expectations.

Fourth-Quarter Outlook

For the fourth quarter, Victoria’s Secret expects adjusted earnings to fall within the range of $2.20 to $2.60 per share. However, analysts at FactSet are predicting earnings of $2.44 per share for the same period.

Stock Performance

Victoria’s Secret’s stock has experienced a significant decline of 34% throughout this year, while the broader S&P 500 index (SPX) has shown an increase of 18.5%. Despite the challenging market conditions, the company remains determined to improve its performance in the upcoming quarters.