Shoppers walk through a mall in Bethesda, Maryland on February 17, 2022.
Mandel Ngan | AFP | Getty Images
On Tuesday, Victoria’s Secret reported first-quarter earnings that beat Wall Street estimates and sales that were in line with expectations despite a challenging macro environment.
The lingerie retailer’s executives said in prepared comments that the company successfully managed “significant supply chain bottlenecks” this quarter and also realized the benefits of federal stimulus received last year.
Here’s what happened to Victoria’s Secret financial first quarter compared to what Wall Street expected based on Refinitiv estimates:
- Earnings per share: $1.11 adjusted against expected 84 cents
- Income: $1.48 billion vs. expected $1.48 billion
Victoria’s Secret reported net income for the three-month period ended April 30 of $76.14 million, or 93 cents per share, compared to net income of $174 million, or $1.97 per share, a year earlier.
Excluding one-off items, it earned $1.11 per share, beating analysts’ expectations of 84 cents.
Sales fell 4.5% to $1.48 billion from $1.55 billion a year earlier, but that was in line with analysts’ expectations.
This story is evolving. Please stay tuned for updates.