What's Going On With Lingerie Giant Victoria's Secret Stock Today?
Portfolio Pulse from Lekha Gupta
Victoria's Secret & Co. (NYSE:VSCO) shares fell 8% after reporting Q2 results. Revenue slightly beat expectations, but comparable sales decreased. Adjusted EPS exceeded estimates. The company revised its full-year outlook, expecting a 1% sales decrease. New CEO Hillary Super will start on September 9. Investors can access VSCO via SPDR S&P Retail ETF (NYSE:XRT).
August 29, 2024 | 1:39 pm
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NEUTRAL IMPACT
Investors can gain exposure to Victoria's Secret through the SPDR S&P Retail ETF (XRT).
XRT provides exposure to Victoria's Secret, but the direct impact on XRT is limited as it is a diversified retail ETF. The news is more relevant to VSCO than XRT.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Victoria's Secret shares fell 8% after Q2 results. Revenue beat expectations, but comparable sales decreased. Adjusted EPS exceeded estimates. The company revised its full-year outlook, expecting a 1% sales decrease.
Despite beating revenue and EPS expectations, the decrease in comparable sales and a revised full-year outlook indicating a sales decline led to an 8% drop in stock price. The market reacted negatively to the sales decline and outlook.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100