Operating income for Victoria’s Secret & Co.’s third quarter is projected to be near the top of its previously announced guidance range of US $ 10 million to US $ 40 million, and earnings are projected to be towards the previously communicated guidance range of US $ 0.00 to US $ 0.25 per diluted share.
“Led by our two category-defining brands and a global business positioned to increase market share, our goal is clear – to be the world’s leading fashion retailer of intimate apparel,” said Chief Executive Officer, Martin Waters.
He added, “Our company’s dominant market position in the domestic intimate category is a crucial asset and area for expansion. We are inspired by the response of our consumers to our brand transformation and we’re still committed to building Victoria’s Secret reputation that both consumers and our employees deserve.”
Victoria’s Secret outlined three strategic growth pillars for better performance ahead including:
Firstly ‘Strengthen the Core’: expanding market share in key categories of bras, intimates and beauty, while being more inclusive and drawing in a wider customer base with more engaging storytelling in both offline stores and online
Secondly ‘Ignite Growth’: expanding the company’s global reach through international partners, adding new brand, and concentrating on markets and clientele that are underrepresented in the portfolio of the company
Finally, ‘Transform the Foundation’, by building a modern, high-performing organisation to deliver efficiencies and to invest in people and culture
Martin Waters also added, “We have created a solid financial platform during the last 15 months as a public company. With our new operating structure in place, we now have even greater agility and an aligned focus on our customers and our strategic priorities.”
