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Victoria's Secret & Co. (NYSE:VSCO) Q3 2024 Earnings Call Transcript

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Q3 2024 Earnings Call Transcript December 6, 2024 Operator: Good morning. My name is Amanda and I will be your conference operator today. At this time, I'd like to welcome everyone to the Victoria's Secret & Company's Third Quarter 2024 Earnings Conference Call.
The article provides a transcript of Victoria's Secret & Co.'s (NYSE: VSCO) Q3 2024 earnings call. During the call, CEO Martin Waters and CFO Timothy Johnson discussed the company's financial performance for the third quarter ending October 28, 2023. Key points included a year-over-year sales decline, with net sales dropping by 4% to $1.27 billion, and a significant decrease in operating income from $57.4 million to $10.3 million. The company faced challenges such as a tough economic environment, lower consumer demand, and increased promotional activity. Despite these issues, there were some positive developments, including growth in the international segment and the launch of new product categories like activewear. The management also outlined strategies to improve performance, focusing on product innovation, enhancing customer experience, and optimizing their store and digital presence. They also provided cautious guidance for the upcoming quarter, expecting continued pressure on sales but aiming for margin improvements through cost management and operational efficiencies.

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