Buoyed by an early positive response to its holiday merchandise and a better-than-expected third quarter performance, Victoria’s Secret & Co has revised its annual outlook upwards.
As against its earlier forecast of a 1 per cent, the US-based largest lingerie retailer now anticipates revenues will grow by up to 2 per cent in FY24. Its adjusted operating income is projected to grow by 15 per cent to $345 million during the year as against previous estimates.
This marks the first earnings report under the leadership of Hillary Super, CEO who took the helm in August 2024 to spearhead the company’s turnaround. A former head of singer Rihanna-owned brand Savage X Fenty, Super has invigorated investor confidence, with the company’s stock rising significantly since her appointment.
Victoria’s Secret’s revenue for the Q3, FY24 ending November 2 rose to $1.35 billion as the brand adopted effective inventory management and cost control strategies, says Super. The brand’s improved outlook reflects the customers’ growing confidence in its ability to navigate challenges and leverage early holiday momentum for sustained growth.
