38 Mins Ago
Victoria’s Secret sinks 25% following mixed earnings, weak guidance
Shares of Victoria’s Secret plummeted more than 25% after the intimate apparel maker reported mixed quarterly results and issued disappointing guidance.
The company posted earnings of $2.58 per share that topped the $2.47 expected by analysts polled by LSEG, but revenues came in at $2.08 billion and shy of the $2.09 billion anticipated.
For the full year, Victoria’s Secret forecasted revenues to fall in the low single digits, versus an LSEG estimate of a 0.4% decline. The company also anticipates a bigger-than-expected decline in revenues for the first quarter.
Alongside its earnings report, the company authorized a $250 billion buyback plan.
See Chart…
Victoria’s Secret drops 25% after earnings report
An Hour Ago
Stock futures open little changed
Stock futures opened little changed on Wednesday evening.
Futures tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq-100 were flat.
— Samantha Subin
