Why Victoria's Secret Shares Are Surging Today

Why Victoria's Secret Shares Are Surging Today

Victoria's Secret & Co VSCO shares are trading higher Thursday after the company announced a new strategic vision for the future and updated its third-quarter guidance. 

Victoria's Secret is hosting an investor day on Thursday, discussing its new vision, which includes plans to strengthen its core business, ignite growth and transform the foundation of the company.

"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.

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.

See Also: Why Alibaba Shares Are Falling

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 6.63% at $34.66 at time of publication, according to Benzinga Pro.

Photo: Andreas Lischka from Pixabay.

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