Published on 1 Feb 2023 on Zacks via Yahoo Finance
Victoria's Secret (VSCO) shares ended the last trading session 9.1% higher at $42.15. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8% gain over the past four weeks.
Shares of Victoria’s Secret jumped after the company posted better-than-expected guidance for the fourth-quarter 2022. For the fourth quarter, the company anticipates operating income in the range of $265-$275 million compared with the prior estimate of $245-$265 million. Diluted earnings per share in the fourth quarter is anticipated in the range of $2.25-$2.35 up from the previous estimate of $2.05-$2.25. Moreover, positive investor sentiments were witnessed on attributes of a new share repurchase program and a better than expected retail environment.
This retailer of lingerie, pajamas and beauty products is expected to post quarterly earnings of $2.21 per share in its upcoming report, which represents a year-over-year change of -18.2%. Revenues are expected to be $2 billion, down 8.2% from the year-ago quarter.