Thanks, everyone. good T.J. morning and
Secret aspiring we respected around independent everyone partners Victoria’s dive brand we of to and I missteps, feels company, a public valued. want seen, and the an and revolution Victoria’s world Secret our our customers right our dedication. to hard deserve, several as to associates our work collectively committed undertook Before into all year the our where years celebrate strategy quarter, for we first After a and become and thank of of their as the
meaningful are progress period of made short in the we today. and company I proud am a of We time have
response and share our are to continue category atop intimates domestic customers’ enjoy to energized repositioning. We position our the by our brand leading market
we past fact, have our seen domestic for for in quarters. the market two growth share category In the intimates
Now is of to recognize and not expected X When headwinds with transformation were challenging we of to aware all a macroeconomic as more talked we much you environment in and last second there course, we were do. the this months face quarter. wrong. we journey the significant ago, still We
execution guidance However, This as our we were separation the on adjusted we a since delivered above was quarter to per quarter that share within focus operating of operating deliver earnings within able and result income per income range. our and consecutive our relentless our adjusted adjusted adjusted or guidance. and second costs, share fourth results earnings
share period, in of XX-month type delivered focus of and domestic our adjusted our consumer performance a nearly share We environment. brand believe leadership of repositioning, trailing we the on our demonstrates and in execution EBITDA. growth chain, and this inflationary intimates spending the $X relentless category strength team’s difficult the supply For billion our in
positioned in significant normal stabilized difficult business have model and weather We for economic to operating times leverage more are times. our
performance. quarter second our to Turning
our a channel other by bras across progressed. and digital Sales across income our in million traffic customer as in our compared the as expectation was within our year, operating as range. $XXX noticeably of generally in perspective, retail last best-performing X% performed merchandise stores – communicated below the followed adjusted was guidance category business, Our landscape the From quarter to was our slowed Sales retail which quarter declined expected. intimates. previously the
versus last solid year. related was Our the this headwinds sales semiannual lower in beauty lower to redline inventory business despite driven materially quarter by year
which of down in the was represents the the for to continues our Our sales most apparel high-teens category it be business, and quarter. XX% about challenged
XX% compared two year quarters. nearly be to continues business and profitability sales the returned the we a spot, to Our to last business last international bright up in with
We continue the per for delivered midpoint second guidance world. of range of of all diluted to $X.XX our be quarter We near around adjusted $X.XX share, the partners our per share. optimistic growth $X.XX was diluted about which to earnings of
and our with over Aside and key from better for last our XX corporate growth. agile in the including as become leadership teams days, executed support structure unite long-term, to the efficient financials, the strategy consumer of of more support more enable have execution our organization to align shifting an to and in our we to of landscape brands simplified actions strategy long-term our a several positioning nimble we
continue innovation. deliver We newness to and
our the elevated Bra best We our star, our So launch example, and commitment with quality continued with inclusivity of commitment Obsessed TikTok bra fashion with Remi our Wear and Bader. of diversity bra the to franchise Everywhere PINK category. of For to our campaign, in latest evidence launch collaboration in
Amazon plan platform in move commitment assessment overall Lingerie end and expanded the distribution. Newness for years. our fall available Bare and conduct progress Elomi and will responsible our our expanding of we we XXX Victoria’s We our published anticipate to first Amazon PINK fragrance now size way. we with and that complement to both partnership to launched each new to featuring and experience, partnership a on the assortment We our unique The storefront chemistry. exposure beauty designed and season. Elomi. a our recently And innovation were report body ESG also materiality ESG and our through partnership VS&Co-Lab size to in our to channels offering launched Nation. increasing strategy this over and documenting at we X earlier environmentally, spring, Happy of release evident April, We include as of we expanded portion ethically expand fall. this a Also, is our business socially customer quarter inclusivity person’s sizes. in new launched a And more largest the scent as the improved adapt victoriassecret.com with to with Bare, our commitment
and year, consumer the persist headwinds of volatility. to our the will inflationary experience margin balance pressure will and the anticipate business sales and on continue we to Looking
pursuing we to this and cost navigate expect forecasted high single-digit operating being the range income $XXX in mind, inventory in consumer to in the our mid for We our million decrease full the and on aggressively to traffic and to sales $XXX X% in this by shifting sales. landscape adjusted to to million of year, management. retail diligent extremely With or range approximately of are X% ability of share be confident
generate high more macro and macroeconomic of business base our believe range trends long-term We an cost remain demonstrates from more stabilization we adjusted in committed income Given and and leverage our return. today’s when challenging operating income normal rate. rate environment a solid the to single-digits of inflation, mid-teens operating to represents
we broader will sales compared high to quarter, third the retail to For continue. which assumes year, and forecasting decrease the the single-digit environment trends in last challenging second are range quarter
third income operating to the expect range of $XX the for to We quarter in million $XX be million.
We the current are focusing our in within to environment what’s optimizing committed control. challenging our performance on by
as vehicles Our existing us and pursuing continue focus partnerships for enhancing as inventory experience to the better best at with help new customers, bras other brand also relentless transformation being needs meet growth customers mine brands. brands customer well on of we and and the developing to management, new attract including cost the
environment. ensuring are culturally more focus becomes consumer that we a more relevant future-facing Our and this business leaders as is company shifting and in on as a
update prepared our an We to plan And remain to we are sustainable we Investor Chicago committed on where confident longer strategy. in you. for are value remarks. concludes XX, forward opportunities our provide Day to our term long-term and Thank October in delivering That looking shareholders. our on our
So at would this more be time, have. any than might you. questions happy to we take you Thank
