Victorias Secret & Co. · NYSE:VSCO
Victorias Secret & — Q1 2023 Earnings Presentation
11 slides from Victorias Secret &'s earnings presentation, May 31, 2023
Slide 1: First Quarter Earnings
First Quarter Earnings May 31, 2023
Slide 2: Forward Looking Statements
Forward Looking Statements • Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 • our ability to realize the potential benefits and synergies sought with the acquisition of AdoreMe, Inc.; • We caution that any forward-looking statements (as such term is defined in the U
Slide 3: Adjusted Consolidated and Combined Statements of Income
VICTORIA'S SECRET & CO. ADJUSTED ' CONSOLIDATED AND COMBINED STATEMENTS OF INCOME THIRTEEN WEEKS ENDED APRIL 29, 2023 AND APRIL 30, 2022 (Unaudited) (In millions except per share amounts) % Increase Increase 2023 2022 (Decrease) (Decrease) Net Sales $ 1,407.4 $ 14838 0 (76.4) 5% Comparable Store Sal
Slide 4: Consolidated Balance Sheets
VICTORIA'S SECRET & CO. CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) April 29, 2023, April 30, 2022 ASSETS Current Assets Cash and Cash Equivalents $ 132,445 $ 204,264 Accounts Receivable, Net 125,500 151,651 Inventories 1,040,701 1,045,778 Other 135,968 112,381 Total Current Assets 1,434,
Slide 5: 2023 Outlook as of May 31, 2023
Net Sales Adjusted Gross Margin Rate Adjusted SG&A Expense Rate Adjusted Operating Income Adjusted Operating Income Rate Net Non-Operating Expense Tax Rate (before discrete items) Weighted Average Diluted Shares Outstanding Adjusted Net Income Per Diluted Share Attributable to VS&Co Capital Expendit
Slide 6: Store Count and Selling Sq Ft
VICTORIA'S SECRET & CO. STORE COUNT AND SELLING SQFT 2023 Forecast Total Reconstructions Beginning of Year New Stores Closures ‘ond Chango mn SSF End of Year Increase / (Decrease) Company-Operated US. ‘Store Count 812 15 to 20 (13 to 18) 48 809 to 819. ()to7 0% to 1% Solling Sq Ft 000's 5,617 63 to
Slide 7: Appendix
APPENDIX VS&Co
Slide 8: Consolidated Statements of Income
VICTORIA'S SECRET & CO. CONSOLIDATED STATEMENTS OF INCOME THIRTEEN WEEKS ENDED APRIL 29, 2023 AND APRIL 30, 2022 (Unaudited) (In thousands except per share amounts) Net Sales Costs of Goods Sold, Buying and Occupancy Gross Profit General, Administrative and Store Operating Expenses Operating Income
Slide 9: Selected Data
SELECTED DATA THIRTEEN WEEKS ENDED APRIL 29, 2023 AND APRIL 30, 2022 (Unaudited, in thousands) Capital Expenditures 2023 2022 First Quarter $ 54,851 $ 21,181 Second Quarter 37,058 Spring Season $ 54,851 $ 58,239 Third Quarter 67,052 Fourth Quarter 38,636 Year $ 54,851 $ 163,927 D iation & A oes 2023
Slide 10: Refer to the following page for details regarding certain items excluded
Refer to the following page for details regarding the certain items excluded in the adjusted results. 10
Slide 11: Non-GAAP Financial Information
VICTORIA'S SECRET & CO. NON-GAAP FINANCIAL INFORMATION (Unaudited) 11