Victorias Secret & Co. · NYSE:VSCO
Victorias Secret & — Q1 2022 Earnings Presentation
11 slides from Victorias Secret &'s earnings presentation, May 31, 2022
Slide 1: First Quarter Earnings
First Quarter Earnings May 31, 2022
Slide 2: Forward Looking Statements
Forward Looking Statements • Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 • We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this presentation or made by the Company,
Slide 3: Forward Looking Statements
Forward Looking Statements • Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 • Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in t
Slide 4: Adjusted Consolidated and Combined Statements of Income, Thirteen Weeks Ended April 30, 2022
VICTORIA'S SECRET & CO. 1 ADJUSTED CONSOLIDATED AND COMBINED STATEMENTS OF INCOME THIRTEEN WEEKS ENDED APRIL 30, 2022 AND MAY 1, 2021 (Unaudited) (In millions except per share amounts) % Increase Increase 2022 2021 (Decrease) (Decrease) Net Sales $ 1,483.8 $ 1,554.2 $ (70.4) -5% Comparable Store Sal
Slide 5: Consolidated and Combined Balance Sheets
VICTORIA'S SECRET & CO. CONSOLIDATED AND COMBINED BALANCE SHEETS (Unaudited) (In thousands) April 30, 2022 May 1, 2021 ASSETS Current Assets Cash and Cash Equivalents $ 204,264 $ 331,950 Accounts Receivable, Net 151,651 110,959 Inventories 1,045,778 761,305 Other 112,381 94,539 Total Current Assets
Slide 6: 2022 Outlook as of May 31, 2022
VICTORIA'S SECRET & CO. 2022 Outlook as of May 31, 2022 Second Quarter Net Sales Up low-single digits to down low-single digits compared to $1.614 billion in 2021 Gross Margin Rate About 37%, down from 2021 rate of 41.5% SG&A Expense Rate About 28%, down from 2021 rate of 28.9% Operating Income Betw
Slide 7: Store Count and Selling Sq Ft 2022 Forecast
VICTORIA'S SECRET & CO. STORE COUNT AND SELLING SQ FT 2022 Forecast Reclassed to Joint Total Reconstructions Increase / (Decrease) Beginning of Year New Stores Closures End of Year Venture (a) and Change in SSF Excludes Reclassed to Joint Venture Company-Operated U.S. Store Count 808 16 (9 to 27) -
Slide 8: Appendix
APPENDIX VS&Co
Slide 9: Consolidated and Combined Statements of Income, Thirteen Weeks Ended April 30, 2022
VICTORIA'S SECRET & CO. CONSOLIDATED AND COMBINED STATEMENTS OF INCOME THIRTEEN WEEKS ENDED APRIL 30, 2022 AND MAY 1, 2021 (Unaudited) (In thousands except per share amounts) 2022 2021 Net Sales $ 1,483,806 $ 1,554,220 Costs of Goods Sold, Buying and Occupancy (962,300) (882,079) Gross Profit 521,50
Slide 10: Adjusted Financial Information
VICTORIA'S SECRET & CO. ADJUSTED FINANCIAL INFORMATION (Unaudited) (In thousands except per share amounts) The non-GAAP financial information presented in this presentation should not be construed as an alternative to the reported results determined in accordance with generally accepted accounting p
Slide 11: Adjusted Financial Information, Twelve-Months Ended April 30, 2022
VICTORIA'S SECRET & CO. ADJUSTED FINANCIAL INFORMATION TWELVE-MONTHS ENDED APRIL 30, 2022 (Unaudited, in millions) Second Quarter Third Quarter Fourth Quarter First Quarter Twelve-Months Ended 2021 2021 2021 2022 APRIL 30, 2022 Reconciliation of Net Income Attributable to Victoria's Secret & Co. to