supply chain challenges, inflation and global headwinds put a damper on Victoria’s Secret outlook for the year even as it reported fourth-quarter earnings and sales that beat analysts’ estimates.
In an earnings presentation, Victoria’s Secret, which went public as a standalone company in August, revealed that it plans to launch a digital-first brand, called Happy Nation, aimed at tweens. The brand will feature “undies, first bras, comfy clothing, and body care that parents and tweens can feel good about,” the company said.
The retailer that its net income fell to $246 million, or earnings per share of $2.70, for the quarter ended Jan. 29, from $282 million, or earnings per share of $3.30, in the year-ago period. Analysts had expected earnings per share of $2.63.Chain Storeage