Victoria's Secret Shares Fall 7% After Hours On 2Q Miss, Cut FY Outlook

Dow Jones2022-08-25

Shares of Victoria's Secret & Co. declined 7.4% to $35.53 in after-hours trading on Wednesday after the retailer known for lingerie lowered its full-year outlook following a drop in second-quarter profit.

Consumers spent less on Victoria's Secret's products in the recent quarter because of inflationary pressures, which Chief Executive Martin Waters expects will continue through the remainder of the year. The retailer changed its guidance for sales to decline for the year in the high single-digit range.

The Reynoldsburg, Ohio-based company said net income was cut by more than half in its second quarter to $69.9 million, or 83 cents per share. A consensus of analysts polled by FactSet were looking for 95 cents per share.

Revenue fell below expectations to $1.52 billion, and total comparable sales declined 8% on slower traffic patterns.

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Comments

Targarean
2022-08-25
Targarean
Cannot be that women don't wear lingerie no more.Or did men stop buying for their girlfriends?!
TaiJin
2022-08-25
TaiJin
[Miser]
alexcsb
2022-08-25
alexcsb
Ok
ramius75
2022-08-25
ramius75
😓
陈河马
2022-08-25
陈河马
Wow
Williamw
2022-08-25
Williamw
Ok

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