Victoria’s Secret ($VSCO) has announced its first quarter (Q1) 2024 results, surpassing expectations in sales, operating income, and earnings per share. Despite this, the company remains cautious due to subdued spending. The company reported total revenue of $1.36 billion, which is down 3% year-over-year and 35% quarter-over-quarter. Additionally, Victoria’s Secret reported a net loss of $4 million, compared to a net income of $1 million year-over-year, marking a 102% decline quarter-over-quarter. The company's shares fell approximately 1% following the results. Victoria’s Secret also noted that it is 'encouraged' by May sales.