At the US lingerie provider Victoria’s Secret & Co., business has recently been a little better than expected. On Wednesday, as part of its investor day, the company adjusted its earnings forecasts for the third quarter of the current 2023/24 financial year accordingly.
“Our international sales growth exceeded our projections, and the trend in North America continues to improve month-over-month as expected,” CEO Martin Waters said in a statement.
In view of the latest developments, management now expects a decline in sales of three to five percent for the current quarter, which lasts until the end of October. The forecast for the operating loss adjusted for special items was specified at US$45 million to US$65 million (US$43 million to US$62 million). Management had previously expected between $45 million and $75 million. The target range for net loss per share adjusted for special items was narrowed from $0.70 to $1.00 to $0.70 to $0.90. However, the forecasts for the entire financial year remained unchanged.