Victoria's Secret & Co. Q3 Loss Decreases, Beats Estimates

(RTTNews) - Victoria's Secret & Co. (VSCO) revealed Loss for third quarter that Decreased from the same period last year and beat the Street estimates.

The company's bottom line came in at -$37.348 million, or -$0.46 per share. This compares with -$56.227 million, or -$0.71 per share, last year.

Excluding items, Victoria's Secret & Co. reported adjusted earnings of -$21.567 million or -$0.27 per share for the period.

Analysts on average had expected the company to earn -$0.59 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 9.2% to $1.471 billion from $1.347 billion last year.

Victoria's Secret & Co. earnings at a glance (GAAP) :

-Earnings: -$37.348 Mln. vs. -$56.227 Mln. last year. -EPS: -$0.46 vs. -$0.71 last year. -Revenue: $1.471 Bln vs. $1.347 Bln last year.

Looking ahead, the company has revised up its annual guidance above analysts’ expectations.

For the full year, the company now expects adjusted income of $2.40 to $2.65 per share, compared with the prior guidance of $1.80 to $2.20 per share.

VSCO now anticipates annual sales of $6.450 billion to $6.480 billion, higher than the earlier outlook of $6.330 billion to $6.410 billion.

Analysts, on average, forecast the firm to earn $2.13 per share, on revenue of $6.39 billion for the year.

For the fourth quarter, the company projects adjusted income of $2.20 to $2.45 per share, in line with analysts’ forecast of $2.23 per share.

VSCO expects fourth-quarter sales to be in the range of $2.170 billion to $2.200 billion, compared with the Street view of $2.17 billion.

VSCO was up by 13.77% at $47.25 in the pre-market trade on the New York Stock Exchange.