Brief: Victoria’S Secret & Co. Announces Partnership With Regina Miracle International (Holdings) Limited For Existing Business In China

Regina Miracle International (Holdings)

25/01/2022 12:59

Jan 25 (Reuters) - Victoria’s Secret & Co  VSCO.N :
    * VICTORIA’S SECRET & CO. ANNOUNCES PARTNERSHIP WITH REGINA
MIRACLE INTERNATIONAL (HOLDINGS) LIMITED FOR EXISTING BUSINESS
IN CHINA
    * VICTORIA'S SECRET & CO - CO AND REGINA MIRACLE HAVE FORMED
A JV
TO OPERATE ALL VICTORIA'S SECRET STORES AND RELATED ONLINE
BUSINESS IN CHINA
    * VICTORIA'S SECRET & CO - CO WILL OWN 51 PERCENT OF JV WITH
REGINA MIRACLE OWNING REMAINING 49 PERCENT
    * VICTORIA'S SECRET - CO DOES NOT ANTICIPATE PROPOSED DEAL
TO HAVE
MATERIAL IMPACT ON PREVIOUSLY AFFIRMED OPERATING INCOME & EPS
GUIDANCE FOR Q4 2021
    * VICTORIA'S SECRET & CO - CO DOES NOT ANTICIPATE PROPOSED
DEAL TO
HAVE MATERIAL IMPACT ON PRIOR OPERATING INCOME AND EPS GUIDANCE
FOR Q4 OF FISCAL 2021
    * VICTORIA'S SECRET & CO - ON DEAL COMPLETION, CO WILL
RECEIVE $45
MILLION IN CASH FROM REGINA MIRACLE AS CONSIDERATION FOR ITS
INVESTMENT IN JV

Source text for Eikon:  ID:nGNX30FcN4 
Further company coverage:  VSCO.N 

 ((Reuters.Briefs@thomsonreuters.com;))