By Oyin Adedoyin
Victoria's Secret, the renowned lingerie, clothing, and beauty retailer, has announced an improved sales outlook for the third quarter. The company expects a continued positive trend with its sales performance, with early October results indicating the best month of the fiscal period.
Increased Sales Outlook
Victoria's Secret now projects an adjusted operating loss between $45 million to $65 million for the third quarter, compared to its previous guidance of a loss ranging from $45 million to $75 million. Additionally, the company anticipates a net loss per share in the range of 70 cents to 90 cents, rather than the previously projected 70 cents to $1.00 per share.
Positive International Expansion
Martin Waters, the Chief Executive Officer of Victoria's Secret, expressed optimism about the company's international sales growth exceeding expectations. Meanwhile, the North American market also continues to demonstrate a monthly improvement as planned.
Long-Term Strategic Plan
Due to ongoing macroeconomic uncertainty and market challenges within the intimate clothing sector, Victoria's Secret intends to unveil a comprehensive long-term strategic plan to its investors on October 12th. By prioritizing merchandising and enhancing digital capabilities, the company aims to mitigate the adverse impact on sales caused by these factors.
Embracing Digital Transformation
In line with its commitment to adapting to changing market dynamics, Victoria's Secret recently acquired Adore Me, a digitally native intimates brand. Furthermore, the introduction of new leaders focused on merchandising and digital capabilities will drive innovation within the company.