04:55 PM EDT, 06/05/2024 (MT Newswires) -- Victoria's Secret (VSCO) reported Q1 adjusted earnings late Wednesday of $0.12 per diluted share, down from $0.28 a year earlier.

Analysts polled by Capital IQ expected $0.12.

Net sales for the quarter ended May 4 were $1.36 billion, down from $1.41 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.36 billion.

The company said it expects Q2 adjusted diluted EPS between $0.05 and $0.20. Analysts polled by Capital IQ expect $0.06.

The company said it reaffirmed its fiscal year 2024 guidance and still expects net sales to be about $6 billion. Analysts surveyed by Capital IQ expect $6 billion.

Victoria's Secret also said that proxy advisory firms are recommending that its shareholders vote in favor of the election of all its director nominees, compensation of its named executive officers, and amendment to increase the number of shares available for issuance.

The annual shareholder meeting is slated for June 13.

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