Victoria's Secret & Co. Reports Fourth Quarter 2024 Results

Financial Performance - The company reported net sales of $2.106 billion for the fourth quarter of 2024, a 1$2.082 billion in the fourth quarter of 2023 [5] - Total comparable sales for the fourth quarter of 2024 increased by 5% [5][24] - The company achieved a net income of $193 million, or$2.33 per diluted share, for the fourth quarter of 2024, compared to $181 million, or$2.29 per diluted share, in the fourth quarter of 2023 [6][28] - For the full fiscal year 2024, net sales were $6.230 billion, a 1$6.182 billion in fiscal year 2023 [11] - The full year net income was $165 million, or$2.05 per diluted share, compared to $109 million, or$1.39 per diluted share, in fiscal year 2023 [12][30] Operational Highlights - The company experienced sales growth across both Victoria's Secret and PINK brands, as well as in the Beauty segment, during the holiday season [3] - The company effectively managed costs and inventory levels in a competitive holiday environment [3] - Adjusted net income for the fourth quarter of 2024 was $216 million, or$2.60 per diluted share, compared to $204 million, or$2.58 per diluted share, in the fourth quarter of 2023 [7][34] Future Guidance - The company forecasts first quarter 2025 net sales to be between $1.30 billion and$1.33 billion, down from $1.359 billion in the first quarter of 2024 [15] - For fiscal year 2025, net sales are expected to be in the range of$6.2 billion to $6.3 billion, compared to$6.204 billion in fiscal year 2024 [16] - Adjusted operating income for fiscal year 2025 is projected to be between $300 million and$350 million [16] Store Operations - As of February 1, 2025, the company operated a total of 1,387 stores, which includes 782 in the U.S. and 24 in Canada [26] - The company opened 84 new stores while closing 67 during the year [26]