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Victoria’s Secret & Co. (VSCO - Free Report) posted fourth-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Victoria’s Secret reported a strong fourth-quarter performance, with holiday sales increasing across its Victoria’s Secret, PINK and Beauty segments. It reported growth across key merchandise categories in both physical stores and digital channels, as well as in North American and International markets. The company successfully captured a significant share of mall and online traffic during peak shopping periods.
VSCO’s Q4 in Detail
In the quarter under review, VSCO reported adjusted earnings per share (EPS) of $2.60, outpacing the Zacks Consensus Estimate of $2.30 by 13%. The bottom line increased 0.8% from $2.58 reported in the year-ago quarter.
Victoria's Secret & Co. Price, Consensus and EPS Surprise
Quarterly revenues of $2.1 billion beat the consensus mark of $2.08 billion by 1.2%. The top line rose 1% on a year-over-year basis. The company’s comparable sales increased 5% on a year-over-year basis.
VSCO’s net sales from the North America channel came in at $1.16 billion, up 0.5% year over year. Direct channel’s net sales rose 2.5% year over year to $752.2 million. Net sales from the International channel fell 0.6% year over year to $193.2 million.
VSCO’s Margin & Costs
The gross profit declined 1.5% year over year to $813.4 million. The gross margin during the fiscal fourth quarter came in at 38.6% compared with 39.7% reported in the prior-year quarter. The cost of sales was $1.29 billion, up 2.8% year over year.
General, administrative and store operating expenses decreased 3.8% year over year to $545.7 million. It incurred interest expenses of $20.1 million, lower than the $26.6 million reported in the prior-year quarter.
VSCO Fiscal 2024 Highlights
Total revenues in fiscal 2024 amounted to $6.22 billion compared with $6.18 billion in fiscal 2023.
Operating income in fiscal 2024 totaled $309.6 million compared with $245.6 million in fiscal 2023.
In fiscal 2024, adjusted EPS came in at $2.69 compared with $2.27 reported in the previous year.
VSCO’s Fiscal 2025 Outlook
For the first quarter of fiscal 2025, management expects net sales to range between $1.30 billion and $1.33 billion. Adjusted operating income for first-quarter fiscal 2025 is forecasted to fall in the range of $10-$30 million.
The company anticipates gradual improvement in market conditions throughout fiscal 2025, supported by strategic initiatives aimed at driving sales growth across both North American and International markets. For fiscal 2025, net sales are forecasted to be between $6.2 billion and $6.3 billion. VSCO expects its adjusted operating income in fiscal 2025 to range between $300 million and $350 million.
VSCO’s Zacks Rank & Key Picks
VSCO has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Retail-Wholesale sector have been discussed below.
BOOT has a trailing four-quarter earnings surprise of 7.2%, on average. The stock has declined 18.6% in the past six months. The Zacks Consensus Estimate for BOOT’s 2025 sales and EPS indicates growth of 14.9% and 21.4%, respectively, from the year-ago period’s levels.
Genesco Inc. (GCO - Free Report) presently flaunts a Zacks Rank of 1. GCO has a trailing four-quarter earnings surprise of 36.9%, on average. The stock has surged 26.5% in the past six months.
The consensus estimate for GCO’s 2025 sales and EPS indicates growth of 1.5% and 67.9%, respectively, from the year-ago period’s levels.
Nordstrom, Inc. (JWN - Free Report) currently sports a Zacks Rank of 1. JWN has a trailing four-quarter earnings surprise of negative 26.1%, on average. The stock has risen 10.3% in the past six months.
The Zacks Consensus Estimate for JWN’s fiscal 2025 sales indicates a rise of 0.7%, from the year-ago period’s levels.
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Victoria's Secret Q4 Earnings & Revenues Surpass Estimates
Victoria’s Secret & Co. (VSCO - Free Report) posted fourth-quarter fiscal 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Victoria’s Secret reported a strong fourth-quarter performance, with holiday sales increasing across its Victoria’s Secret, PINK and Beauty segments. It reported growth across key merchandise categories in both physical stores and digital channels, as well as in North American and International markets. The company successfully captured a significant share of mall and online traffic during peak shopping periods.
VSCO’s Q4 in Detail
In the quarter under review, VSCO reported adjusted earnings per share (EPS) of $2.60, outpacing the Zacks Consensus Estimate of $2.30 by 13%. The bottom line increased 0.8% from $2.58 reported in the year-ago quarter.
Victoria's Secret & Co. Price, Consensus and EPS Surprise
Victoria's Secret & Co. price-consensus-eps-surprise-chart | Victoria's Secret & Co. Quote
Quarterly revenues of $2.1 billion beat the consensus mark of $2.08 billion by 1.2%. The top line rose 1% on a year-over-year basis. The company’s comparable sales increased 5% on a year-over-year basis.
VSCO’s net sales from the North America channel came in at $1.16 billion, up 0.5% year over year. Direct channel’s net sales rose 2.5% year over year to $752.2 million. Net sales from the International channel fell 0.6% year over year to $193.2 million.
VSCO’s Margin & Costs
The gross profit declined 1.5% year over year to $813.4 million. The gross margin during the fiscal fourth quarter came in at 38.6% compared with 39.7% reported in the prior-year quarter. The cost of sales was $1.29 billion, up 2.8% year over year.
General, administrative and store operating expenses decreased 3.8% year over year to $545.7 million. It incurred interest expenses of $20.1 million, lower than the $26.6 million reported in the prior-year quarter.
VSCO Fiscal 2024 Highlights
Total revenues in fiscal 2024 amounted to $6.22 billion compared with $6.18 billion in fiscal 2023.
Operating income in fiscal 2024 totaled $309.6 million compared with $245.6 million in fiscal 2023.
In fiscal 2024, adjusted EPS came in at $2.69 compared with $2.27 reported in the previous year.
VSCO’s Fiscal 2025 Outlook
For the first quarter of fiscal 2025, management expects net sales to range between $1.30 billion and $1.33 billion. Adjusted operating income for first-quarter fiscal 2025 is forecasted to fall in the range of $10-$30 million.
The company anticipates gradual improvement in market conditions throughout fiscal 2025, supported by strategic initiatives aimed at driving sales growth across both North American and International markets. For fiscal 2025, net sales are forecasted to be between $6.2 billion and $6.3 billion. VSCO expects its adjusted operating income in fiscal 2025 to range between $300 million and $350 million.
VSCO’s Zacks Rank & Key Picks
VSCO has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Retail-Wholesale sector have been discussed below.
Boot Barn Holdings, Inc. (BOOT - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
BOOT has a trailing four-quarter earnings surprise of 7.2%, on average. The stock has declined 18.6% in the past six months. The Zacks Consensus Estimate for BOOT’s 2025 sales and EPS indicates growth of 14.9% and 21.4%, respectively, from the year-ago period’s levels.
Genesco Inc. (GCO - Free Report) presently flaunts a Zacks Rank of 1. GCO has a trailing four-quarter earnings surprise of 36.9%, on average. The stock has surged 26.5% in the past six months.
The consensus estimate for GCO’s 2025 sales and EPS indicates growth of 1.5% and 67.9%, respectively, from the year-ago period’s levels.
Nordstrom, Inc. (JWN - Free Report) currently sports a Zacks Rank of 1. JWN has a trailing four-quarter earnings surprise of negative 26.1%, on average. The stock has risen 10.3% in the past six months.
The Zacks Consensus Estimate for JWN’s fiscal 2025 sales indicates a rise of 0.7%, from the year-ago period’s levels.