Victoria's Secret & Co. sees brighter picture: raises annual forecast
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Lingerie group Victoria's Secret & Co. reported a 7 percent increase in sales in the third quarter. The positive figures prompted the company to raise its expectations for the full fiscal year.
The company reports net sales of 1.34 billion dollars for the third quarter. Converted, this is 1.27 billion euros. The result achieved is higher than previously forecast.
Victoria's Secret & Co. also managed to reduce its net loss in the quarter, which came to 56 million, compared to 71 million dollars a year earlier.
The group is raising its forecast for fiscal year 2024. Previously, the company expected a decline of 1 percent, but is now assuming revenue growth of between 1 and 2 percent.
Victoria's Secret & Co. consists of the brands Victoria's Secret, Pink and Adore Me.
This article originally appeared on FashionUnited.NL, translated and edited to English.
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