Victoria's Secret & Co. (NYSE:VSCO) reported second-quarter net sales of $1.417 billion, marking a 1% decrease from the previous year, but tempered this by raising its full-year financial forecasts.
Comparable sales dipped by 3%, yet the results were at the upper of consensus. The lingerie retailer achieved a net income of $32 million, or $0.40 per diluted share, during this period.
Looking ahead, the company anticipates low single-digit net sales growth in the third quarter and has raised its full-year outlook, expecting a 1% decrease in net sales and adjusted operating income between $275 million and $300 million.
Interim CEO Timothy Johnson expressed optimism, noting continued sequential sales improvements in North America across both store and digital channels for the fourth consecutive quarter.
The positive performance was attributed to successful launches such as the Victoria’s Secret Dream bra, the Pink Friday back-to-campus event, and ongoing growth in the VS Sport line.
International markets and the Adore Me brand also experienced high single-digit sales increases.