secwatch.observer — SEC 8-K summary
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Issuer:     Victoria's Secret & Co. (VSCO)
CIK:        0001856437
Form:       8-K
Filed at:   2024-08-14T23:59:59+00:00
Accession:  0001856437-24-000022
Event type: leadership
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Victoria's Secret names Hillary Super CEO; prelim Q2 results above guidance
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- Martin Waters terminated as CEO effective Aug 13; Hillary Super appointed CEO starting Sept 9.
- CFO Timothy Johnson serves as interim CEO from Aug 14 to Sept 8; no additional compensation.
- Prelim Q2 adjusted operating income $57-62M vs guidance $30-45M; adjusted EPS $0.34-0.39 vs $0.05-0.20.
- Net sales expected down 1-2% (prior guidance 1-3% decline); fourth consecutive sequential improvement.
- Super receives $1.2M base salary, 175% target bonus, $1M cash bonus, and equity awards totaling $13.45M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856437/000185643724000022/0001856437-24-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856437/000185643724000022/vsco-20240812.htm
  HTML page:      https://secwatch.observer/filing/0001856437-24-000022

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer