Victoria's Secret posts Q2 net loss of $1M, revenue down 6%; appoints Rod Little to board

Victoria's Secret & Co.

2023-Q2 EPS reported -$0.01 revenue$2,834,000,000

Net loss of $1M ($0.02 diluted EPS loss); adjusted EPS of $0.24 near guidance midpoint.
Net sales $1.427B, down 6% YoY; comparable sales down 11%.
International sales grew >25% YoY; Adore Me also grew sales during quarter.
Expects improving sales trends in Q3/Q4; full-year adjusted operating income rate 5-6%.
Appointed Rod Little (CEO of Edgewell Personal Care) to board, expanding to nine directors.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Rod R. Little

Director

VSCO · Victoria's Secret & Co.

Effective: 2023-08-29
Filed: August 30, 2023, 7:59 PM ET

On August 29, 2023, the Board of Directors (the “Board”) of Victoria’s Secret & Co. increased the size of the Board from eight to nine directors and appointed Rod R. Little to fill the resulting vacancy, effective immediately, to hold office until his successor shall have been duly elected and qualified or until his earlier death, resignation or removal.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Victoria's Secret & Co. reported the second quarter of 2023 results: revenue $1.427 billion, net income $1 million, EPS $0.02 per diluted share.

Period: the second quarter of 2023
Revenue: $1.427 billion
Net income: $1 million
EPS: $0.02 per diluted share
Result: reported results

Exact text from the filing

million. Second quarter 2022 adjusted net income was $92 million, or $1.09 per diluted share, and adjusted operating income was $127 million. The Company reported net sales of $1.427 billion for the second quarter of 2023, a decrease of 6% compared to net sales of $1.521 billion in the prior year second quarter. Total comparable sales for the second quarter of 2023

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Executive change SEC 8-K Item 5.02 confidence 1.0

Rod R. Little was appointed as Director at Victoria's Secret & Co..

Action: appointed
Role: Director

Exact text from the filing

On August 29, 2023, the Board of Directors (the “Board”) of Victoria’s Secret & Co. increased the size of the Board from eight to nine directors and appointed Rod R. Little to fill the resulting vacancy, effective immediately, to hold office until his successor shall have been duly elected and qualified or until his earlier death, resignation or removal.

View on SEC.gov

168 earnings releases filed in the last 30 days. Browse all earnings releases →

Victoria's Secret & Co. filing history →

Source: SEC EDGAR

accession 0001856437-23-000023

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