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Victoria's Secret (VSXY) Q4 FY2023 earnings: revenue $2.1 billion, up 3.1% on the year

Victoria's Secret & Co. (VSXY) reported revenue of $2.1 billion for Q4 FY2023, the quarter ended 3 February 2024, up 3.1% on the same quarter a year earlier. Net income was $180 million, up 4.0% on the year, and diluted earnings per share $2.32. The figures are the company's own, from the 10-K it filed with the SEC on 22 March 2024.

Revenue$2.1 billionup 3.1%
Net income$180 millionup 4.0%
Diluted EPS$2.32
QuarterQ4 FY2023ended 3 February 2024

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue2,0831,265n/an/a
Cost of revenue1,257838n/an/a
Gross profit826427n/an/a
Gross margin39.7%33.8%n/a
Selling, general and administrative567494n/an/a
Operating income259-67.0n/an/a
Operating margin12.4%-5.3%n/a
Interest expense27.026.0n/an/a
Income tax48.0-22.0n/an/a
Net income180-71.0n/an/a
Net margin8.6%-5.6%n/a
Diluted EPS$2.32-$0.92n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. 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. 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

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow589-181n/an/a
Capital expenditure32.080.0n/an/a
Free cash flow557-261n/an/a
Free cash flow margin26.7%-20.6%n/a
Cash from investing-31.0-80.0n/an/a
Cash from financing-413255n/an/a
Depreciation and amortisation68.071.0n/an/a
Share-based compensation15.014.0n/an/a
Buybacks0.00.0n/an/a
Diluted shares, weighted79m77mn/an/a
Shares outstanding at period end78m77mn/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

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity417220n/an/a
Non-controlling interest21.018.0n/an/a
Debt1,1241,534n/an/a
Operating lease liabilities1,3121,279n/an/a
Other liabilities1,7261,636n/an/a
Total liabilities and equity4,6004,687n/an/a
Fixed assets843871n/an/a
Goodwill367365n/an/a
Intangible assets155161n/an/a
Cash and equivalents270124n/an/a
Receivables152139n/an/a
Inventory9851,211n/an/a
Other assets1,8281,816n/an/a
Total assets4,6004,687n/an/a

Questions

What was Victoria's Secret's revenue in Q4 FY2023?

Victoria's Secret (VSXY) reported revenue of $2.1 billion for Q4 FY2023, the quarter ended 3 February 2024, up 3.1% on the same quarter a year earlier.

How much did Victoria's Secret earn in Q4 FY2023?

Net income for Q4 FY2023 was $180 million, up 4.0% on the year, and diluted earnings per share $2.32.

When did Victoria's Secret report Q4 FY2023 results?

Victoria's Secret filed its 10-K for the year that ended with the quarter on 22 March 2024; the fourth quarter is the year less the first three.

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-K for the period ended 3 February 2024, filed 22 March 2024, accession 0001856437-24-000005: the filing on EDGAR. All of Victoria's Secret & Co.'s filings: EDGAR company page.

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