Victoria’s Secret Soars to Record High on Turnaround Triumph
Victoria’s Secret beat earnings estimates and raised its full-year net sales outlook to as much as $7.13 billion, with $1.56 billion in quarterly net sales. The stock jumped about 47% to a record close as CEO Hillary Super’s bras-and-Pink-brand turnaround gains traction, aided by stronger demand for non-discounted merchandise and growth across income segments. The company has posted four straight quarters of revenue growth and is repositioning with a ticker change to VSXY amid activist investor activity.