Victoria's Secret Shares Dip On Below Expectations Q2 Earnings & Dismal Outlook
Portfolio Pulse from Lekha Gupta
Victoria's Secret & Co (NYSE:VSCO) reported Q2 FY23 results below consensus, with a 6.2% Y/Y decline in revenue to $1.43 billion. Adjusted EPS of $0.24 also fell short of the expected $0.26. The company's outlook for Q3 and FY23 predicts further decreases in net sales and a larger than expected adjusted EPS loss. As a result, VSCO shares are trading lower.
August 31, 2023 | 10:30 am
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Victoria's Secret reported lower than expected Q2 FY23 results and a dismal outlook for Q3 and FY23, causing a decrease in its stock price.
Victoria's Secret's Q2 FY23 results fell short of expectations, with a 6.2% Y/Y decline in revenue and an adjusted EPS of $0.24, lower than the expected $0.26. The company's outlook for Q3 and FY23 also predicts further decreases in net sales and a larger than expected adjusted EPS loss. This negative financial performance and outlook have led to a decrease in the company's stock price.
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