Victoria’s Secret & Co. Shares Surge 7% on Q1 Earnings Beat
2022.06.01 00:27
Victoria’s Secret & Co. Shares Surge 7% on Q1 Earnings Beat
By Davit Kirakosyan
Victoria’s Secret & Co (NYSE:VSCO) shares were trading around 8% higher after-hours following the company’s reported Q1 results, with EPS of $1.11 coming in better than the consensus estimate of $0.83. Revenue declined 4.5% year-over-year to $1.48 billion, in line with the consensus estimate.
“Against the backdrop of significant global headwinds and a challenging inflationary environment, we delivered sales results at the high end of our guidance range and better than expected adjusted earnings per diluted share,” CEO Martin Waters commented.
The company expects Q2/22 EPS in the range of $0.95-$1.25, compared to the consensus estimate of $1.19. The Company is forecasting second quarter 2022 sales to be up low-single digits to down low-single digits compared to last year.
Martin said the company is “well prepared to continue to address macro challenges through merchandise and marketing that delights our customers, new business initiatives designed to expand our customer base and grow sales, and disciplined financial management.”
