Victoria’s Secret Stock Jumps on Improved Outlook
Shares of Victoria’s Secret rose 8% Tuesday!
That after the lingerie retailer said its holiday sales season was better than expected.
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Shares of Victoria's Secret rose 8% Tuesday after the lingerie retailer said its holiday sales season were better than expected.#victoriassecret #stock pic.twitter.com/bpOnqs59Rm
— The_Journalbiz (@the_journalbiz) January 31, 2023
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The Reynoldsburg, Ohio-based retailer raised its guidance for fourth-quarter net income to a range of $2.25 to $2.35 per share, up from its previous forecast for $2.05 to $2.25 per share.
Net sales are expected to decline in the range of 7% to 8%, compared with the prior guidance of a high-single digit decline.
The company is expected to report its quarterly earnings on March 2, according to FactSet.
Victoria’s Secret also said it plans to enter an accelerated share repurchase agreement with Goldman Sachs & Co. to repurchase $125 million of the company’s common stock
