Victoria's Secret updates Q4 guidance, authorizes $250M share repurchase

Victoria's Secret & Co.

New Q4 operating income guidance $245M-$265M (12-13% of sales) vs prior $240M-$290M.
EPS guidance narrowed to $2.05-$2.25 per diluted share from $2.00-$2.45.
Reaffirms Q4 sales decline high-single digit vs $2.175B prior year.
Board approves new $250M share repurchase program, effective after current $250M program ends Jan 2023.
CEO cites strong holiday performance, inventory trending lower; excludes Adore Me impact.

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