05:15 PM EDT, 08/28/2024 (MT Newswires) -- Victoria's Secret (VSCO) reported fiscal Q2 adjusted net income late Wednesday of $0.40 per diluted share, up from $0.24 per share a year earlier.

Analysts polled by Capital IQ expected $0.38.

Net sales in the quarter ended Aug. 3 fell to $1.42 billion from $1.43 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.41 billion.

In fiscal Q3, the company expects an adjusted net loss per share of $0.60 to $0.80, while net sales are projected to rise in the low single digits. Analysts surveyed by Capital IQ expect a loss of $0.68.

In fiscal 2024, Victoria's Secret expects net sales to decrease about 1% compared with prior guidance of a drop in the low single digits.

Shares of Victoria's Secret rose 3% in recent after-hours activity.

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