{"id":191466,"date":"2021-12-30T10:38:13","date_gmt":"2021-12-30T10:38:13","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=191466"},"modified":"2022-01-04T18:56:02","modified_gmt":"2022-01-04T18:56:02","slug":"victorias-secret-announces-250-million-accelerated-share-repurchase-program","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/victorias-secret-announces-250-million-accelerated-share-repurchase-program\/","title":{"rendered":"Victoria\u2019s Secret announces $250 million accelerated share repurchase program"},"content":{"rendered":"<p><strong><a href=\"https:\/\/www.theindustry.fashion\/the_directory\/victorias-secret\/\"><span style=\"color: #ff0000;\">Victoria\u2019s Secret<\/span> <\/a>has announced that it has entered into an accelerated share repurchase agreement with Goldman Sachs to repurchase $250 million of its common stock.<\/strong><!--more--><\/p>\n<p>Under the ASR, the lingerie company will make an <strong>initial payment of $250 million to Goldman Sachs and will receive an initial delivery of approximately 4.1 million shares<\/strong> of the company\u2019s common stock on 31 December 2021.<\/p>\n<p>The final number of shares to be repurchased will be based on the volume-weighted average price of the company\u2019s common stock during the term of the ASR. The final settlement is expected to be completed in the first quarter of 2022.<\/p>\n<p>The company, which is the world\u2019s largest intimates specialty retailer, offers consumers a wide assortment of modern, fashion-inspired collections including signature bras, panties, lingerie, casual sleepwear, athleisure and swim, as well as award-winning prestige fragrances and bodycare.<\/p>\n<p>Victoria\u2019s Secret also <strong>reaffirmed the fourth quarter guidance provided in November 2021, which forecasted sales to be in the range of flat to up 3%<\/strong> versus last year\u2019s fourth quarter sales of $2.100 billion and operating income to be in the range of $295 million to $335 million.<\/p>\n<p>Victoria\u2019s Secret CEO, Martin Waters, commented: \u201cI am very pleased with our fourth quarter performance to date and believe we have solid plans in place for the balance of this holiday selling season. Our stores are in a good inventory position as we begin our semi-annual sale and anniversary the positive stimulus impact on sales in January of last year. Performance has been broad-based across all of our businesses, and our stores channel has been a position of strength for our results. The teams have executed well and focused on what we can control in this challenging supply chain environment, and I could not be more proud of our efforts.\u201d<\/p>\n<p>\u201cOver the past few months, we have stabilised our business and created a platform for future growth while generating significant cash flow. Our financial stability and cash flow potential are pillars of strength and competitive advantages. With the unanimous support of our Board of Directors, we are announcing our first-ever share repurchase. We believe this share repurchase reflects our confidence in the Company and is another step on our journey to create long-term, sustainable value for our shareholders.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":49,"featured_media":191474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10488,10585,6],"tags":[22307,11222,16342,10769,22306,16500,16499,15182],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Victoria\u2019s Secret announces $250 million accelerated share repurchase program - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Victoria\u2019s Secret has announced that it has entered into an accelerated share repurchase agreement with Goldman Sachs to repurchase $250 million of its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/victorias-secret-announces-250-million-accelerated-share-repurchase-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Victoria\u2019s Secret announces $250 million accelerated share repurchase program - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"Victoria\u2019s Secret has announced that it has entered into an accelerated share repurchase agreement with Goldman Sachs to repurchase $250 million of its\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theindustry.fashion\/victorias-secret-announces-250-million-accelerated-share-repurchase-program\/\" \/>\n<meta property=\"og:site_name\" content=\"TheIndustry.fashion\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theindustryfashion\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-30T10:38:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-04T18:56:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2021\/12\/VS-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1640\" \/>\n\t<meta property=\"og:image:height\" content=\"856\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tom Shearsmith\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:site\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tom Shearsmith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theindustry.fashion\/victorias-secret-announces-250-million-accelerated-share-repurchase-program\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/victorias-secret-announces-250-million-accelerated-share-repurchase-program\/\"},\"author\":{\"name\":\"Tom Shearsmith\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/0ef585178e99d23ac0b525337547c9be\"},\"headline\":\"Victoria\u2019s Secret announces $250 million accelerated share repurchase program\",\"datePublished\":\"2021-12-30T10:38:13+00:00\",\"dateModified\":\"2022-01-04T18:56:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theindustry.fashion\/victorias-secret-announces-250-million-accelerated-share-repurchase-program\/\"},\"wordCount\":381,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"keywords\":[\"buyback\",\"Finance\",\"Goldman Sachs\",\"Lingerie\",\"Martin Waters\",\"Shares\",\"stock\",\"Victoria's Secret\"],\"articleSection\":{\"0\":\"Brands &amp; 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