Published • loading... • Updated
Victoria Secret shares spike 40% after big earnings beat, raised sales outlook
The retailer lifted full-year sales and profit forecasts after first-quarter revenue beat estimates and comparable sales rose 13%, according to StreetAccount.
- On Tuesday, Victoria's Secret raised its full-year sales outlook to $7.03–$7.13 billion after reporting a fiscal first-quarter earnings beat, sending shares soaring about 40% in premarket trading.
- For the quarter ending May 2, the retailer reported $1.56 billion in sales, up about 15% year-over-year, with 13% comparable sales growth exceeding Wall Street expectations of $1.52 billion.
- CFO Scott Sekella attributed the improved guidance to leverage on fixed costs and lower tariff rates, while the company prioritizes 'supercharging bras' as a core business anchor.
- Projecting current quarter sales between $1.59 billion and $1.62 billion, the company issued an optimistic outlook even as peers released conservative forecasts amid consumer spending concerns.
- CEO Hillary Super is rebuilding the brand's identity to win over new shoppers, driving 'very consistent, double-digit increases' across all income groups and regaining market share from competitors.
Insights by Ground AI
14 Articles
14 Articles
Lingerie giant Victoria's Secret has adjusted its financial outlook following a strong first quarter. The share price exploded on the stock market.
·Amsterdam, Netherlands (Kingdom of the)
Read Full Article
Coverage Details
Total News Sources14
Leaning Left3Leaning Right3Center5Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 27%
C 46%
R 27%
Factuality
To view factuality data please Upgrade to Premium
