Victoria’s Secret & Co. is the latest retailer to feel the effects of inflation.
In the case of Victoria’s Secret, the firm is now expecting its current quarter sales to be up low-single digits to down low-single digits, compared with sales of $1.6 billion during 2021’s first quarter, thanks to continued macro challenges. The firm is forecasting earnings per diluted share in the range of 95 cents to $1.25 apiece, compared with $1.71 a share last year.
“We are confident with our ability to manage inventory throughout 2022 and expect inventory growth at the end of the second quarter to be similar to Q1 and to begin moderating through the back half of the year,” the company said in a statement. “Turning to the full, fiscal-year 2022 forecast, we believe the environment will continue to be challenging into the second half of the year.
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