Victoria's Secret's stock rises on fourth-quarter earnings guidance

Victoria's Secret & Co.'s (VSCO) stock is up 2% in after-hours trading Wednesday after the retail store reported quarterly results. Victoria's Secret reported a fiscal-third-quarter net loss of $71.2 million, or 92 cents a share, compared with net income of $24.4 million, or 29 cents a share, in the same quarter a year ago. The quarterly adjusted net loss was $66 million, or 86 cents per diluted share. Net sales were $1.27 billion, compared with $1.31 billion a year ago. Analysts surveyed by FactSet had expected on average a net loss of 78 cents a share on revenue of $1.27 billion. The company expects fourth-quarter adjusted earnings to be in the range of $2.20 to $2.60 a share. FactSet analysts are predicting $2.44 a share. Victoria's Secret's stock has slumped 34% this year, while the broader S&P 500 index has increased 18.5%.

-Jon Swartz

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11-29-23 1651ET

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