753 [750 0 0] To strengthen our workforce and better reflect and serve our customers, its critical that we have diverse voices at the table, the report said. This result was in-line with our previously communicated guidance of down high-single digits compared to the third quarter last year. Net Income Attributable to Victoria's Secret & Co. Net Income Per Diluted Share Attributable to Victoria's Secret & Co. 1 - Reported Weighted Average Shares Outstanding reflects diluted shares in the first, second and third quarters of 2022. In the beauty division, Victorias Secret said it continues to oppose animal testing and that no branded products, formulations or ingredients are tested on animals. Above all, one thing you can expect from me and all of us at Victorias Secret & Co. is radical transparency and a commitment to always do better.. 0 554 We have created a solid financial platform with our new, more agile operating structure, and even in a very challenging macroeconomic environment, we were able to deliver third quarter operating income and earnings per diluted share results above our previous guidance. /CIDToGIDMap /Identity 0000041452 00000 n Thats why we refer to our ESG journey as 525 525 543 600 556 758 656 556 656 556 214 382 407 572 321 390 385 321 377 439 343 333 Words such as estimate, commit, target, goal, project, plan, believe, seek, strive, expect, anticipate, intend, potential and any similar expressions may identify forward-looking statements. 1950 750 1983 >> For one, different reports have different audiences. 0000059120 00000 n 555 222 496 254 556 289 558 556 556 375 892 Our exposure score takes into consideration subindustry and company-specific factors such as its business model. Other recent updates included enhanced governance for Victorias Secrets. 382 833 556 777 556 277 666 500 722 500 722 553 239 239 431 869 838 731 510 548 612 For periods prior to the separation in the third quarter of 2021, basic shares at the separation date are being utilized for the calculation of basic and diluted net income per share. << 2084 /Iabc5 21 0 R 666 500 666 500 666 500 666 500 610 277 382 371 377 328 371 777 666 556 722 333] But the move may reflect an agreement with the company to turn over some files out of court. /A << our geographic concentration of vendor and distribution facilities in central Ohio and Southeast Asia; the ability of our vendors to deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations; fluctuations in freight, product input and energy costs, including those caused by inflation; our and our third-party service providers ability to implement and maintain information technology systems and to protect associated data and system availability; our ability to maintain the security of customer, associate, third-party and company information; our ability to maintain our credit rating; our ability to comply with regulatory requirements; and. 0 /Encoding /WinAnsiEncoding All Rights Reserved, Do Not Sell or Share My Personal Information. /Type /Font 2041 Chief Executive Officer Martin Waters commented, After nearly a year and a half as an independent, publicly-traded company, we continue to make significant progress in our transformation and mission to celebrate and champion all women. [382 542 542 542 542] /Descent -212 3291 Average. 2051 /A << 2090 Its an acknowledgement of the work that lies ahead of us, a transparent look into where we are today and a nod to where were headed. [813 959 1008 959] 375 339 157 219 382 387 377 353 321 358 578 Victorias Secret Reveals First ESG Report - BY KELLIE ELL The lingerie giant outlines employee gender and ethnic data for the first time. 358 358 369 364 0 0 0 0 277 372 542 1153 Most recently, Victorias Secret, Giant banks boost dividends after passing Fed stress test, Nokia renews patent license agreement with Apple, covering 5G and other technologies, 3 killed, 17 wounded in Ukraine from Russian attacks, as Spain highlights European support for Kyiv, Organon, Samsung Bioepis launch copycat for athritis drug Humira at 85% discount, LGBT rights yield to religious interests at US Supreme Court. We are committed to retaining more diverse associates, attracting more diverse talent and empowering the growth and, advancement of all our associates. In 2021, we set out to transform our business and embarked on a journey as a new, stand-alone public company, he continued. 2840 222 556 277 222 277 222 777 556 777 556 777 969 trailer <]/Prev 63868/XRefStm 1811>> startxref 0 %%EOF 174 0 obj <>stream >> %ABCpdf 11102 /XObject << 0000056231 00000 n >> 3878 We recognize that we have an opportunity to increase our diverse workforce and leadership representation, particularly by closing the gap in our home office and director-and-above roles., Just how the company plans to do that is unclear. 239 648 552 648 239 552 554 710 459 597 556 666 556 666 556 666 556 666 556 666 244 244 432 432 432 432 812 812 812 812 2064 /BaseFont /Helvetica 2030 As previously announced, we expect the acquisition of Adore Me to close by the end of January 2023, subject to customary closing conditions and regulatory clearances. But Waters added in the report that, , This has been, and will continue to be, an ongoing process of listening, learning and challenging ourselves to improve and to build trust with our stakeholders, starting with our inspiring customers and the dedicated associates who are committed to serving them every day., Other recent updates included enhanced governance for Victorias Secrets. 0000041160 00000 n /H /N 0000002161 00000 n 270 157 157 274 571 571 382 382 381 377 3784 xXyXU0*h"!KY9*eT 1989 2204 [272 244 199 343 343 556 364 364 519 519] 556 500 500 556 556 556 738 458 458 631 509 509 462 462 535 694 694 694 694 562 To our knowledge, this was the largest case of severance theft ever at an individual garment factory and thus this is the biggest severance case victory to date. 3533 Third quarter operating income and diluted EPS above guidance, Provides fourth quarter and reaffirms full year 2022 guidance. 520 802 822 625 718 520 510 750 541 556 2029 /Supplement 0 222 333 556 600 833 833 833 833 333 333 /Length 728 Sarah received a Bachelor of Marketing Management degree from 277] WebDownload the 2021 ESG Report Environmental AEO is committed to accelerating sustainability improvements across our operations. 394 514 638 588 244 244 638 588 244 244 2759 2086 WebImage: Victoria's Secret, Love Cloud collection 2022 Lingerie giant Victoria's Secret has published its first-ever environmental, social and governance (ESG) report outlining the 3504 Banks and lenders can use our ESG Risk Ratings and data as a part of a broader analysis of their clients as well as for innovative product solutions such as sustainability linked loans. 1127 /Fit] 394 394 337 337 394 394 525 525 244 244 We are excited for the opportunity to leverage Adore Mes expertise and technology to improve our customer shopping experience and accelerate the modernization of our digital platform. ESG Feb. 5, 2020, 1:47 PM Victorias Secret Refused to Act to Protect Women, Models Say Kim Bhasin Bloomberg News Jordyn Holman Bloomberg News More than 100 signed letter to Victorias Secret CEO Mehas L Brands says it has common goal to ensure models safety 542 780 780] Victoria's Secret & Co.'s Management of ESG Material Risk is Average. 333 722 556 722 556 777 556 722 333 722 << 542 105 525 556 722 556 854 669 854 669 854 669 854 2092 Heres the best way to eat it, Joy Bauer makes your summer party healthier with 4 easy food swaps, Easy, healthy meal ideas for the week ahead: Smoothies, spicy turkey lettuce wraps and more, He started walking and lost 360 pounds. Adjusted Net Income Per Diluted Share Attributable to Victoria's Secret & Co. (a) In the first quarter of 2022, we recognized a $21.7 million charge ($16.2 million net of tax of $5.5 million), included in buying and occupancy expense, related to a legal matter with a landlord regarding a high-profile store that we surrendered to the landlord prior to separation. endobj /Height 18 2017 666 666 610 277 277 277 469 556 333 556 Victorias Secret & Co. VS&Cois comprised of market leading brands, Victorias Secret and Victorias Secret PINK, that share a common purpose of inspiring and uplifting our customers in every stage of their lives. 2098 /ItalicAngle 0 289 558 558 558 558 578 333 333 333 333 Jun 21, 2023 Victorias Secret & Co. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. 3879 /Source (WeJXFxNO4fJduyUMetTcP9+oaONfINN4+d621rbcCGY9xwyBFkG7UPUWCzx23ER5B9khgm8VtCFmyd8gIrwOjQRAIjPsWhM4vgMCV\ 2760 0000001556 00000 n We recognize that this will require not simply an evolution of our business, but a revolution, driven by a vision to apply the lessons we have taken to heart in recent years to become the worlds leading advocate for women., At a glance, the report shows that women make up the majority of associates at all levels of the company, including 87 percent company-wid. 761 /O 7 [318 318 750 616 412 207 229 207 229 432 3354 Management refers to how well a company is managing its relevant ESG issues. 780 2007 2588 525 525 244 244 525 525 244 244 506 506 453 666 722 667 666 556 500 222 737 556 333 509 460 462 601 352 574 566 546 478 549 The report, Waters added, was the next stage of this mission, as it looks to continue to embed diversity, equity and inclusion (DEI) into all aspects of the business. 666 WebVictorias Secret & Co. Reports First Quarter 2023 Results Provides second quarter and updated full year 2023 guidance REYNOLDSBURG, Ohio, May 31, 2023 (GLOBE 748 607 609 745 655 789 583 0 0 0 2051 While people of color make up nearly half of the boards members (43 percent), then numbers are lagging in positions at the director and above level. 2076 2581 During the third quarter, the Company invested $43 million to repurchase 1.2 million shares under this program. The Company reported net sales of $1.318 billion for the third quarter of 2022, a decrease of 9% compared to net sales of $1.441 billion in the prior year third quarter. By Kellie Ell April 11, 795 [556 222 666 500 610 500 259 722 556 666 556 932 394 514 812 932 394 514 812 932 394 [322 157 339 328 348] 1424 But Waters added in the report that, This has been, and will continue to be, an ongoing process of listening, learning and challenging ourselves to improve and to build trust with our stakeholders, starting with our inspiring customers and the dedicated associates who are committed to serving them every day., The report also said that according to a 2021 internal review, in partnership with the nonprofit Fair Pay Workplace, Victorias Secret found that 99 percent of its workforce was paid equitably. [821 821 530 530 821 821 530 530 821 821 We recognize that we have an opportunity to increase our diverse workforce and leadership representation, particularly by closing the gap in our home office and director-and-above roles., Just how the company plans to do that is unclear. Our values are more than a source of pride they're a source of performance that leads to growth that benefits all our communities. 254 222 555 566 595 612 554 503 647 617 2023 Victoria's Secret & Co. Company. 556 Victorias Secret is 2103 787 525 529 529 562 525 529 529 562 525 529 Victoria's Secret & Co is a specialty retailer of lingerie, pajamas, and beauty products with prestige fragrances and body care. 601 777 556 722 500 610 403 624 529 756 1996 500 403 556 500 500 964 906 1005 712 429 endobj 750 529 529 562 525 529 529 337 337 337 337 2807 The company plans to contribute roughly $50 million over the next five years to charities that promote womens health and leadership. 722 556 666 500 610 500 500 577 425 648] 3992 Led by our two category-defining brands and merchandise leadership positions in intimates and beauty, we remain confident in our ability to deliver our long-term financial targets, reinvest in our business, and return value to our shareholders. 488 488 821 821 530 530 543 450 525 394 968 2035 Victorias Secret is taking its transformation efforts seriously. 2096 /Parent 2 0 R 0000037967 00000 n 1614 jx='m]urN28qBtE&!d)E,/ dTej+-)sCcD,vcGpGox!G0{NOZ=3m46Rz*;+^zv!|Z RF:hWa oT~iaH(pWCeQ3DL]q`|):ZW+8Y%zJzI1#>YJ 1000 500 1000 333 250 166 556 277 200 83 We are a brand, a business and a team inspired by a commitment to women around the world. [713 713 244 244 713 713 244 244 713 713 << >> /T 88854 11 0 obj 394 812 932 394 514 812 932 394 514 812 0000016528 00000 n Announces Leadership Appointments, Victorias Secret Lingerie and Apparel Launches in Amazon Fashion Stores, Victorias Secret & Co. Reports First Quarter 2023 Results, 2023 Victoria's Secret & Co. Company. 0000021013 00000 n 1620 2493 1974 0 0000047521 00000 n 239 239 364 480 320 190 354 222 222 222 WebAt Victoria s Secret & Co., we believe in doing what is right in our industry, for our communities and for the world. >> 1299 438 1272 656 238 543] 500 500 500 500 777 531 507 558 552 397 500 666 556 583 583 333 333 333 833 833 At a glance, the report shows that women make up the majority of associates at all levels of the company, including 87 percent company-wide and 86 percent of the board. 394 514 812 932 394 514 638 588 375] 0 [556 1000] Learn more about: cookie policy, We noticed you're visiting from France. Lingerie giant Victorias Secret has published its first-ever environmental, social and governance (ESG) report outlining the steps the company has made in these areas so far and what it needs to continue to work on. 3498 2085 3422 stream 2616 3697 << 610 777 624 880 222 277 666 500 222 500 Previously, Sarah was a Manager, Strategy (Esg) at Victoria's Sec ret and also held positions at Jeni's Splendid Ice Creams, Cardinal Health, Conservation Consultants, The Conservation Fund. 961 Referencing its supply chain, the company said: We are assessing the environmental performance of facilities across our value chain to establish our baseline in order to set a formal science-based greenhouse gas reduction target.. 722 333 722 333 722 333 722 333 666 500 Optimize our packaging, including decreasing the amount of packaging and increasing use of recycled materials. 864 We recognize that we have an opportunity to, increase our diverse workforce and leadership representation, particularly by closing the gap in our home office and director-and-above roles., Just how the company plans to do that is unclear. 666 556 777 556 713 244 267 262 581] /BaseFont /ESEYSY+ArialMT 2103 518 507 552 659 554 657 648 555 554 617 %PDF-1.4 % The company set a target to only use chemicals that are 100 percent certified on the Manufacturing Restricted Substance List for its core lingerie and apparel suppliers by 2030. hbbbd`b``3&` ~ endstream endobj 113 0 obj <>/Metadata 4 0 R/OpenAction 114 0 R/Pages 3 0 R/StructTreeRoot 6 0 R/Type/Catalog/ViewerPreferences<>>> endobj 114 0 obj <> endobj 115 0 obj >/PageTransformationMatrixList<0[1.0 0.0 0.0 1.0 -960.0 -540.0]>>/PageUIDList<0 573>>/PageWidthList<0 2016.0>>>>>>/Resources<>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/Properties<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 2016.0 2520.0]/Type/Page>> endobj 116 0 obj <> endobj 117 0 obj [/ICCBased 137 0 R] endobj 118 0 obj <>stream