Stock Story -
Intimatewear and beauty retailer Victoria’s Secret (NYSE:VSCO) will be reporting results tomorrow afternoon. Here’s what you need to know.
Victoria's Secret (NYSE:VSCO) met analysts’ revenue expectations last quarter, reporting revenues of $1.36 billion, down 3.4% year on year. It was a slower quarter for the company, with a miss of analysts’ earnings estimates.
Is Victoria's Secret a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Victoria's Secret’s revenue to decline 1.3% year on year to $1.41 billion, improving from the 6.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.38 per share.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 8 upward revisions over the last 30 days. Victoria's Secret has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Victoria's Secret’s peers in the apparel and footwear retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Urban Outfitters (NASDAQ:URBN) delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 1%, and Boot Barn (NYSE:BOOT) reported revenues up 10.3%, topping estimates by 1.6%. Urban Outfitters traded down 9.5% following the results while Boot Barn was up 13.7%.
Read the full analysis of Urban Outfitters’s and Boot Barn’s results on StockStory.
Investors in the apparel and footwear retail segment have had steady hands going into earnings, with share prices up 1.1% on average over the last month. Victoria's Secret is up 34% during the same time and is heading into earnings with an average analyst price target of $21.5 (compared to the current share price of $24.22).
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