Fashion

Victoria’s Secret records revenue, income declines in 2022


Underwear giant Victoria’s Secret announced on Friday, revenue for the full year 2022 fell 6% to $6.344 billion, after revenue fell single-digit numbers in the fourth quarter ended January 28.

Victoria’s Secret

The Columbus, Ohio-based company said fourth-quarter revenue fell 7% to $2.021 billion from the same period in 2021, while three-month net income fell 30% to $173 million, equivalent equivalent to $2.10 per diluted share in the fourth quarter. quarter 2022.

Full-year net income was $348 million, or $4.14 per diluted share, down 46% in 2021.

“As we look back on 2022, our first full year as an independent, publicly traded company, I would like to express my deepest gratitude for the hard work and dedication of the company. donations from our team of associates and partners around the world. During the holiday quarter, our teams controlled what they could control despite the challenging economic environment for our customers, delivering fourth-quarter adjusted operating income and adjusted earnings per share according to our most recent guidance and ended the year at Victoria’s Secret and PINK inventory levels are down double digits on an adjusted basis — conservatively positioned to start 2023,” said managing director, Martin Waters.

However, the shift is yet to come to fruition in 2023, with the retailer announcing first-quarter sales expected to drop a percentage point in the mid-single-digit range. Adjusted profit is expected at 0.3 cents to 0.6 cents a share.

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