Victoria’s Secret To Repurchase $250 Million Company Shares

Victoria’s Secret, a renowned lingerie, clothing, and beauty retailer, has announced plans to repurchase $250 million of its company shares. The Board of Directors unanimously approved the new share repurchase program, known as the “January 2023 Share Repurchase Program,” on January 11, 2023.

This program will commence once the current $250 million share repurchase program is exhausted, which is expected to happen by the end of January 2023. The shares repurchased under the January 2023 Share Repurchase Program will be made in the open market, subject to market conditions and other factors.

These shares will be available to meet obligations under equity compensation plans and for general corporate purposes. The program will continue until exhausted, but no later than the end of the fiscal year 2023. In addition to the share repurchase program, Victoria’s Secret has also entered into an accelerated share repurchase agreement (ASR) with Goldman Sachs & Co.…