Victoria's Secret, the intimates giant had a challenging year but is on the right path after its first full year as a public company, as per the company press release.

The company's fourth-quarter net profits decreased by 29.7 per cent, but adjusted profits of $2.47 a share beat analysts' expectations. Sales for the three months ended Jan. 28 decreased by 7.1 per cent, but were in line with Wall Street's expectations. For the full year, net profits fell 46 per cent, and sales declined 6.4 per cent.

Despite the challenging economic environment, the company feels is "prudently positioned to begin 2023." However, the first quarter isn't shaping up to be as strong as analysts hoped, with sales projected to decrease by a percentage in the mid-single-digit range, and adjusted profits projected at 30 cents to 60 cents a share, below the 83 cents analysts anticipated.

The CEO said the company's brand repositioning efforts are tracking well, and the company plans to continue building on its core offerings as the leader in the intimates market through a pipeline of bra launches and expanding its international footprint.