Victoria’s Secret & Co VSCO shares are trading higher in Wednesday’s after-hours session after the company announced a new strategic vision for the future and updated its third-quarter guidance.
Victoria’s Secret will host an investor day on Thursday to discuss its new vision, which includes plans to strengthen its core business, ignite growth and transform the foundation of the company.
Victoria’s Secret said it now expects third-quarter operating income to be towards the high end of its previous guidance range of $10 million to $40 million. Third-quarter earnings are also expected to be at the high end of the previously provided guidance range of flat to 25 cents per share.
“Led by our two category-defining brands and a global business positioned to increase market share, our goal is clear – to be the world’s leading fashion retailer of intimate apparel. Our market position atop the domestic intimates category is a key strength and growth opportunity for our business,” said Martin Waters, CEO of Victoria’s Secret.
The Victoria Secret analyst day is set to start Thursday morning at 10 a.m. ET.
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VSCO Price Action: Victoria’s Secret has a 52-week high of $65.20 and a 52-week low of $26.14.
The stock was up 2.77% in after hours at $33.40 at time of publication, according to Benzinga Pro.
Photo: jacqueline macou from Pixabay.
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