维多利亚的秘密Victoria's Secret & Co.（VSCO）2025财年第三季度财务业绩演示报告「NYSE」（英文版）（17页）.pdf

1、ThirdQuarterEarningsDecember 5,20252Path to PotentialOur objective:two distinct,compelling growth brands completed by a powerhouse beauty businessRecommit Recommit to PINKto PINKEvolve Our Brand Evolve Our Brand Projection>M Projection>M StrategyStrategyOperatewith EfficiencyBuild aCustomer-Cent

2、ric PerformanceCultureEvolveOurProduct Development ProcessesSTRATEGIESSTRATEGIESENABLERSENABLERS1)Includes Sport&SwimFuel Growth Fuel Growth in Beautyin BeautySupercharge Our Supercharge Our Bra AuthorityBra Authority1 13+9%Net Sales with growth across Victorias Secret,PINK&Beauty+34%International N

3、et Sales+1%Growth in U.S.Intimates market share(according to third-party data)+170bpsAdjusted Gross Margin Improvement to 36.5%$0MAdjusted Operating Income,better than guidance of Adjusted Operating Loss of($35M)($55M)($0.27)Adjusted EPS,better than guidance of($0.55)($0.75)Delivering Financial and

4、Operational Traction in Q3 20253Raised Full Year Guidance420252024Increase(Decrease)%Increase(Decrease)Net Sales$1,471.5$1,347.4$124.19%Comparable Store Sales5%2%Comparable Sales8%3%Gross Profit537.0468.368.715%of Sales36.5%34.8%170 bpsGeneral,Administrative and Store Operating Expenses537.0496.340.

5、78%of Sales36.5%36.8%(30 bps)Operating Income(Loss)0.0(28.0)28.0100%of Sales-(2.1%)210 bpsInterest Expense and Other18.321.3(3.0)(14%)Loss Before Income Taxes(18.3)(49.3)31.063%Benefit for Income Taxes(2.7)(11.3)8.676%of Pre-Tax Income14.7%23.0%Net Loss(15.6)(38.0)22.459%of Sales(1.1%)(2.8%)170 bpsL

6、ess:Net Income Attributable to Noncontrolling Interest6.01.54.5300%Net Loss Attributable to Victorias Secret&Co.($21.6)($39.5)$17.945%of Sales(1.5%)(2.9%)140 bpsNet Loss Per Diluted Share Attributable to Victorias Secret&Co.($0.27)($0.50)$0.2346%Weighted Average Shares Outstanding 280.678.7Adjusted1