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Victoria’s Secret & Co. operates as a specialty retailer of women’s intimate apparel, apparel, swim, sport, fragrances and body care through the Victoria’s Secret, PINK and Adore Me brands. Its business combines store and online channels with merchandise sourcing and production functions that support the company and international partners.
News about VSCO commonly covers quarterly results, sales and margin trends, earnings guidance, product campaigns and brand collections across intimates, beauty and seasonal categories. Coverage also includes the company’s Path to Potential strategy, global retail footprint, digital intimates brand activity and shareholder-governance matters, including board composition, annual meeting issues and proxy-related disputes.
Victoria's Secret & Co. (NYSE: VSCO) has announced a new leadership structure aimed at enhancing customer focus and driving growth. The reorganization will merge its three business lines—Victoria's Secret, PINK, and Beauty—into a single collaborative entity. Key leadership appointments include Amy Hauk as CEO for Victoria's Secret and PINK, Chris Rupp as Chief Customer Officer, and Greg Unis as Chief Growth Officer. This restructuring will affect approximately 160 management roles, resulting in an annual cost reduction of about $40 million, while also incurring a non-GAAP charge of around $30 million.
VSCO announced the launch of its digital brand, Happy Nation, in the metaverse via Roblox. This integration promotes sustainability and community support through a partnership with the non-profit 'Undies for Everyone,' providing new underwear to children in need. The hub features three themed obstacle courses aimed at engaging tweens while fostering inclusivity and environmental awareness. Happy Nation pledges to donate up to 10,500 pairs of underwear based on player participation in these courses, showcasing a commitment to social responsibility.
Victoria’s Secret & Co. (NYSE: VSCO) reported first quarter 2022 results with a net income of $80.8 million, or $0.93 per diluted share, compared to $174 million, or $1.97 per share last year. Adjusted earnings were $1.11 per share, exceeding guidance. Sales declined 4.5% year-over-year to $1.484 billion, while comparable sales decreased 8%. The company returned $110 million to shareholders via share repurchases. Looking ahead, second quarter sales are projected to range from a slight increase to a decrease, with earnings expected between $0.95 and $1.25 per diluted share.
Victoria’s Secret & Co. (NYSE: VSCO) announced the election of Mariam Naficy to its Board of Directors during the 2022 Annual Meeting of Shareholders. Naficy boasts over 20 years of experience in digital and direct-to-consumer retailing, co-founding Minted in 2007 and leading its growth. The Board now includes eight directors, seven of whom are women and independent. Board Chair Donna James emphasized Naficy's entrepreneur expertise as crucial for the company's transformation efforts. Naficy expressed excitement about contributing to the brand’s purpose-driven vision.
Victoria’s Secret & Co. has launched VS&Co-Lab, a curated digital platform aimed at promoting unique brands, particularly those led by women. The platform, now live on VictoriasSecret.com, features a collection of 19 brands, with 75% being women-owned. CEO Martin Waters emphasized the potential for growth through partnerships with innovative brands. The initiative seeks to enhance consumer engagement and drive economic empowerment for women and people of color.
Victoria's Secret & Co. (NYSE:VSCO) is set to release its first quarter 2022 earnings on May 31, 2022, after market close. A live conference call will occur on June 1, 2022, at 8:00 a.m. ET, providing insights into the company's financial performance. Investors and analysts can join the call through the company’s website or via a dedicated phone line. This earnings report is crucial for understanding the company's operational status post spin-off from Bath & Body Works, especially in the context of current economic conditions.
Victoria's Secret & Co. (NYSE: VSCO) has expanded its beauty product range by launching approximately 120 best-selling items on Amazon. This move is expected to enhance customer accessibility, with products eligible for fast delivery through Amazon Prime. The launch builds on the ongoing success of VSCO's beauty category, aiming to deepen consumer connections. Key products include signature fragrances and body care items. The company aims to meet consumer demand for beauty products on Amazon, reinforcing its commitment to innovation and customer engagement.
Victoria's Secret launched a new campaign for its best-selling Bombshell fragrance, featuring Camila Cabello in the brand's first bilingual initiative. This campaign, captured by Zoey Grossman, emphasizes celebrating individuality and confidence. Alongside the campaign, the company will host 'The Bombshell Gardens' pop-up in New York City from May 3 to May 9, offering immersive experiences related to the fragrance. Bombshell is known for its blend of fresh-cut peonies and exotic fruits, enhancing Victoria's Secret's status as America's leading fragrance brand.
Victoria's Secret & Co. (NYSE: VSCO) has launched Happy Nation, a fully digital brand targeting tweens aged 8-13. The brand focuses on size-inclusive and gender-free products such as sweats, swimwear, bras, and body care, aiming to create a supportive community. Happy Nation will not have brick-and-mortar stores initially but will integrate with a popular youth gaming platform, marking VSCO's first entry into the metaverse. The brand emphasizes three core values: empowerment, community connection, and sustainability.
Victoria's Secret, in partnership with Pelotonia, awarded $100,000 each to five female cancer researchers during the AACR Annual Meeting. This marks the inaugural presentation of the Global Fund for Women’s Cancers, which will allocate $5 million annually to support research in women's cancers, building on over $21 million previously funded since 2011. The awardees were recognized for their significant contributions to the understanding and treatment of women’s cancers. The Fund aims to enhance collaboration and mentorship among women in cancer research.