Victoria’s Secret, results far from pre-Covid but the title goes to rally
The brand of lingerie American he still feels the weight of Covid on his shoulders: in the third quarter Victoria’s Secret registered a 7% sales increase, going from 1.3 to 1.4 billion dollars: equal to 1.2 billion euros at the current exchange rate, while still below the pre-pandemic levels on the revenue front: compared to Q3 two years ago, the brand has seen a a decrease of 9% also due to the closure of about 260 directly operated stores: at comparable perimeters we are talking about an increase of 4%. Among the hottest markets in the third quarter of 2021, there is North America where growth has reached 22 percent.
Despite the decline in revenues, the market still gives confidence to the brand, positively evaluating the relaunch of the brand in an inclusive perspective, in support ofempowerment female: yesterday at the NYSE the title touched + 17% in the after market. The retailer reported Wednesday earnings per share of 81 cents in the quarter, compared to its previous guide of 60-70 cents per share, and beating FactSet’s consensus for 70 cents.
While for the future– reports PambiancoNews– in the fourth quarter the group expects an increase of 3%, against revenues of the fourth quarter of 2020 equal to 2.1 billion (1.8 billion). The dealer – continues PambiancoNews– expects revenue for the full fiscal year 2021 to be between $ 6.7 and $ 6.8 billion, up 25% on the previous year: positive forecasts, led by holiday season, but which clash with the difficulties of supply chain.
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