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Victoria's Secret & Co. has submitted its Form 10-K filing for the fiscal year ended February 1, 2025.
The filing reports net sales of $6.230 billion, a 1% increase from the previous year. The increase was driven by growth in the international segment and the direct channel, despite a decrease in North American store sales.
Gross profit for the year was $2.284 billion, with a gross profit rate of 36.7%, up from 36.3% the previous year. The increase was attributed to reductions in cost of goods sold and buying and occupancy expenses.
Operating income increased to $310 million, a rise from $246 million the previous year, with an operating income rate of 5.0%.
Net income attributable to Victoria's Secret & Co. was $165 million, an increase from $109 million the previous year. Net income per diluted share rose to $2.05 from $1.39.
The company reported cash provided by operating activities of $425 million and capital expenditures of $178 million.
Victoria's Secret & Co. ended the fiscal year with $227 million in cash and cash equivalents and no outstanding borrowings on its asset-based revolving credit facility.
The filing also discusses the acquisition of Adore Me, completed on December 30, 2022, and its impact on the company's financials.
The company announced a share repurchase program in March 2024, authorizing the repurchase of up to $250 million of its common stock, with no shares repurchased under this program during the fiscal year.
Victoria's Secret & Co. continues to focus on its strategic growth plan, aiming to enhance customer experience and expand its global footprint.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Victorias Secret & Co. annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.