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Victoria’s Secret Sales Fall But Beat Wall Street Estimates

victoria's secret store model images
Victoria's Secret reported quarterly earnings and decreased sales that were in line with estimates. (Getty Images)

The lingerie brand reported net sales of $1.5 billion for the first quarter of 2022, a decrease of 4.5 percent compared to the same period the year prior. The drop was in line with expectations that sales would decrease between 4 percent and 8 percent, according to the company.

CEO Martin Waters attributed the decline to “significant global headwinds and a challenging inflationary environment.” The company expects second-quarter sales to either increase or decrease by a low-single-digit percentage compared to the same period in 2021. Victoria’s Secret is experimenting with its business model after spinning off from L Brands last year. It announced a wholesale partnership with Amazon to sell its VS Beauty line earlier this year.

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Victoria’s Secret Reports Favourable Fourth-Quarter Earnings But Forecasts Downturn

The lingerie giant beat analysts’ estimates for its earnings and sales in the quarter ending January 29, 2022, garnering $2.175 billion in revenue and $246.1 million in net earnings.

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