Victorias Secret Stock Drops After-Hours Following Disappointing Q3 Results
Portfolio Pulse from Ryan Gustafson
Victoria's Secret & Co. (NYSE:VSCO) reported Q3 losses of 86 cents per share, missing analyst estimates and marking a significant decrease from the previous year. Sales also fell short of expectations. Despite this, the company saw positive early holiday sales trends and expects Q4 net sales to increase by 2% to 4%. The CEO highlighted strong performance in North America and growth momentum outside of it, particularly in China. After the earnings report, VSCO shares dropped 1.19% in after-hours trading.
November 29, 2023 | 11:26 pm
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Victoria's Secret reported weaker than expected Q3 results with a loss per share of 86 cents and lower sales, causing the stock to drop after-hours.
The reported earnings miss and lower sales figures are likely to negatively impact investor sentiment in the short term, leading to a decrease in stock price. The after-hours trading already shows a negative reaction to the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100