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Victoria's Secret (VSXY) Q3 FY2023 earnings: revenue $1.3 billion, down 4.0% on the year

Victoria's Secret & Co. (VSXY) reported revenue of $1.3 billion for Q3 FY2023, the quarter ended 28 October 2023, down 4.0% on the same quarter a year earlier. Net income was -$71 million, and diluted earnings per share $-0.92. The figures are the company's own, from the 10-Q it filed with the SEC on 1 December 2023.

Revenue$1.3 billiondown 4.0%
Net income-$71 million
Diluted EPS$-0.92
QuarterQ3 FY2023ended 28 October 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue1,265n/an/an/a
Cost of revenue838n/an/an/a
Gross profit427n/an/an/a
Gross margin33.8%n/an/a
Selling, general and administrative494n/an/an/a
Operating income-67.0n/an/an/a
Operating margin-5.3%n/an/a
Interest expense26.0n/an/an/a
Income tax-22.0n/an/an/a
Net income-71.0n/an/an/a
Net margin-5.6%n/an/a
Diluted EPS-$0.92n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow-181n/an/an/a
Capital expenditure80.0n/an/an/a
Free cash flow-261n/an/an/a
Free cash flow margin-20.6%n/an/a
Cash from investing-80.0n/an/an/a
Cash from financing255n/an/an/a
Depreciation and amortisation71.0n/an/an/a
Share-based compensation14.0n/an/an/a
Buybacks0.0n/an/an/a
Diluted shares, weighted77mn/an/an/a
Shares outstanding at period end77mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Shareholders' equity220n/an/an/a
Non-controlling interest18.0n/an/an/a
Debt1,534n/an/an/a
Operating lease liabilities1,279n/an/an/a
Other liabilities1,636n/an/an/a
Total liabilities and equity4,687n/an/an/a
Fixed assets871n/an/an/a
Goodwill365n/an/an/a
Intangible assets161n/an/an/a
Cash and equivalents124n/an/an/a
Receivables139n/an/an/a
Inventory1,211n/an/an/a
Other assets1,816n/an/an/a
Total assets4,687n/an/an/a

Questions

What was Victoria's Secret's revenue in Q3 FY2023?

Victoria's Secret (VSXY) reported revenue of $1.3 billion for Q3 FY2023, the quarter ended 28 October 2023, down 4.0% on the same quarter a year earlier.

How much did Victoria's Secret earn in Q3 FY2023?

Net loss for Q3 FY2023 was $71 million, and the diluted loss per share $0.92.

When did Victoria's Secret report Q3 FY2023 results?

Victoria's Secret filed its 10-Q for the quarter ended 28 October 2023 with the SEC on 1 December 2023.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,2652,0831,3591,4171,3472,1071,3531,4591,4722,2691,5601,611
Cost of revenue8381,2578589168791,2935586106052,396634509
Gross profit427826501501468814474519536855585759
Gross margin34%40%37%35%35%39%35%36%36%38%38%47%
SG&A494567475439515545454478555626509502
Operating income-67.025926.062.0-47.026920.041.0-19.022976.0257
Operating margin-5%12%2%4%-3%13%1%3%-1%10%5%16%
Interest expense26.027.022.021.022.021.017.018.018.017.015.015.0
Net income-71.0180-4.032.0-56.0193-2.016.0-37.018448.0183
Net margin-6%9%-0%2%-4%9%-0%1%-3%8%3%11%
Diluted EPS-$0.92$2.32-$0.05$0.40-$0.71$2.41-$0.02$0.20-$0.46$2.21$0.56$2.18
Operating cash flow-181589-116115-248674-150156-180673-137402
Capital expenditure80.032.039.060.051.028.043.068.052.024.054.074.0
Free cash flow-261557-15555.0-299646-19388.0-232649-191328
Buybacks0.00.00.00.00.00.00.00.0n/an/a1000.0
Dividends paidn/an/an/an/an/an/a0.00.0n/an/a7.00.0
Shares outstanding77m78m78m78m79m79m80m80m80m80m79m80m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 28 October 2023, filed 1 December 2023, accession 0001856437-23-000033: the filing on EDGAR. All of Victoria's Secret & Co.'s filings: EDGAR company page.

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