Victoria's Secret names Rihanna exec as its new CEO, upgrades Q2 guidance

2024-08-30

Lingerie giant Victoria’s Secret & Co appoints Hillary Super as new CEO, effective September 9, succeeding Martin Waters. Super, with nearly 30 years of retail experience, led Savage X Fenty and Anthropologie Group. The company aims to accelerate growth in North America under her leadership.

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Preliminary Q2 results show expected improvements: net sales down 1-2%, adjusted operating income $57-62 million, and adjusted EPS $0.34-0.39. Positive trends are attributed to successful product launches like the Victoria’s Secret Dream bra collection. CEO Johnson notes sequential sales improvement in North America, emphasizing product innovation and cost structure enhancements driving profitability.

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