Victoria's Secret reported Q1 2024 net sales of $1.359 billion, down 3% YoY, with total comparable sales declining 5%. The company posted a net loss of $4 million, or $0.05 per share, while adjusted operating income reached $40 million at the high-end of preliminary guidance. North America showed sequential improvement in both stores and digital business, with international sales growing in mid-teens.The company forecasts Q2 2024 net sales to decrease in low-single digits compared to last year's $1.427 billion, with adjusted operating income expected between $30-45 million. For full-year 2024, Victoria's Secret reaffirmed its outlook of approximately $6.0 billion in net sales and adjusted operating income of $250-275 million.Leading proxy advisory firms have recommended shareholders vote in favor of all director nominees, executive compensation, and the amendment to increase shares available under the stock plan at the upcoming June 13 annual meeting. The company noted improved store traffic throughout Q1, with digital sales outpacing stores following customer experience investments.

Victoria's Secret reported Q1 2024 net sales of $1.359 billion, down 3% YoY, with total comparable sales declining 5%. The company posted a net loss of $4 million, or $0.05 per share, while adjusted operating income reached $40 million at the high-end of preliminary guidance. North America showed sequential improvement in both stores and digital business, with international sales growing in mid-teens.The company forecasts Q2 2024 net sales to decrease in low-single digits compared to last year's $1.427 billion, with adjusted operating income expected between $30-45 million. For full-year 2024, Victoria's Secret reaffirmed its outlook of approximately $6.0 billion in net sales and adjusted operating income of $250-275 million.Leading proxy advisory firms have recommended shareholders vote in favor of all director nominees, executive compensation, and the amendment to increase shares available under the stock plan at the upcoming June 13 annual meeting. The company noted improved store traffic throughout Q1, with digital sales outpacing stores following customer experience investments.