share_log

Victoria's Secret | 10-K: FY2025 Annual Report

SEC ·  Mar 21 20:17

Summary by Moomoo AI

Victoria's Secret & Co. delivered improved financial results for fiscal 2024, with net sales increasing 1% to $6.23 billion compared to $6.18 billion in 2023. Operating income grew 26% to $310 million, while net income attributable to Victoria's Secret rose 51% to $165 million. The gross profit rate expanded to 36.7% from 36.3% in the prior year, driven by supply chain cost reductions and improved buying and occupancy leverage.The company saw mixed performance across channels, with North American stores sales declining 2% to $3.43 billion while direct channel sales grew 1% to $2.04 billion. International revenue increased 11% to $760 million, driven by growth in sourcing sales, franchise royalties, and China operations. The company ended the year with 882 company-operated stores globally and over 500 partner-operated locations across nearly 70 countries.Management outlined a new "Path...Show More
Victoria's Secret & Co. delivered improved financial results for fiscal 2024, with net sales increasing 1% to $6.23 billion compared to $6.18 billion in 2023. Operating income grew 26% to $310 million, while net income attributable to Victoria's Secret rose 51% to $165 million. The gross profit rate expanded to 36.7% from 36.3% in the prior year, driven by supply chain cost reductions and improved buying and occupancy leverage.The company saw mixed performance across channels, with North American stores sales declining 2% to $3.43 billion while direct channel sales grew 1% to $2.04 billion. International revenue increased 11% to $760 million, driven by growth in sourcing sales, franchise royalties, and China operations. The company ended the year with 882 company-operated stores globally and over 500 partner-operated locations across nearly 70 countries.Management outlined a new "Path to Potential" growth strategy focused on recommitting to the PINK brand, strengthening its bra business, expanding lifestyle categories, and evolving brand projection. The company maintained a strong financial position with $227 million in cash and no borrowings under its ABL facility at year-end. Looking ahead, Victoria's Secret plans to invest in brand elevation, customer experience enhancement and international expansion while managing near-term macro headwinds.

This announcement is a separate document:

Doc 1

Doc 2

Doc 3

Doc 4

Doc 5

Doc 6

Doc 7

Doc 8

Doc 9

Doc 10

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
Comment Comment · Views 237

Recommended

Related Stocks Related Stocks
Symbol Mini Chart Price
Allbirds
BIRD
5.890
Lands'End
LE
11.210
Urban Outfitters
URBN
53.580
Gap Inc
GAP
21.670
a.k.a. Brands
AKA
14.8200
Log In for the Full List
Reassessing Chinese Assets
Following the introduction of China's groundbreaking DeepSeek technology, Wall Street giants have revised their investment outlooks for the Chinese market.
Discussing
Chinese stock earnings surge: Will profit sustain the rally?
1. Which sectors are likely to be market highlights this season? 2. With the government's emphasis on technological innovation and sustaina Show More
Can strong earnings reports drive Chinese concept stocks to continue rising?
77%
23%
Bullish
Bearish
1499 votes
China's Two Sessions: Key Takeaways on Stock Price Movements Before and After the Meetings
On Tuesday, China's political leadership is convening at the Great Hall of the People in Beijing for the year's most significant event, known as the "Two Sessions." These closed-door meetings are the annual plenary sessions of both the National People's Congress and the Chinese People's Political Consultative Conference, typically held simultaneously in March. The sessions generally last for about ten days....