04:48 PM EST, 03/06/2024 (MT Newswires) -- Victoria's Secret (VSCO) reported fiscal Q4 adjusted earnings late Wednesday of $2.58 per diluted share, up from $2.47 a year earlier.

Analysts surveyed by Capital IQ expected $2.46.

Net sales for the quarter ended Feb. 3 was $2.08 billion, up from $2.02 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.08 billion.

The company said it expects Q1 sales to decrease mid-single digits year over year. Four analysts surveyed by Capital IQ expect sales of $1.40 billion.

The company expects fiscal year 2024 sales of about $6 billion. Analysts surveyed by Capital IQ expect $6.20 billion.

The board approved a new repurchase program for up to $250 million of shares.

Victoria's Secret shares fell more than 22% in after-hours trading.

Price: 19.9, Change: -5.72, Percent Change: -22.33