Victoria's Secret & Co. (NYSE:VSCO) shareholders will be hoping for a better set of financials on Wednesday, after June’s disappointment.
Missed first quarter revenue and earnings triggered a sell-off to reach what investors will be hoping was a nadir, they will want to see a marked improvement for the summer quarter.
With Victoria's Secret stock down more than 50% in 2023 to date, it's fair to say expectations are far from high ahead of the second quarter results.
Analyst forecasts ahead of the results pitch second-quarter revenue at $1.43 billion, which if confirmed would be a 6% drop year-on-year.
More detailed estimation envisaging stronger international sales, particularly China, helping offset an overall decline in sales – the foreign operation may be up more than 10% whilst the rest of the business is pegged to have fallen between 8% and 11% by some experts.
Earnings forecasts see Victoria’s Secret reporting 27 cents per shares in the second quarter, which would be 75% less than the same period last year.
Victoria’s Secret is scheduled to report its second quarter earnings after market close on Wednesday 30 August.