{"id":71701,"date":"2023-10-12T04:24:28","date_gmt":"2023-10-12T08:24:28","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/victorias-secrets-stock-rallies-on-more-upbeat-third-quarter-forecast-but-retailer-says-its-products-dont-stand-out-enough\/"},"modified":"2023-10-12T04:24:31","modified_gmt":"2023-10-12T08:24:31","slug":"victorias-secrets-stock-rallies-on-more-upbeat-third-quarter-forecast-but-retailer-says-its-products-dont-stand-out-enough","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=71701","title":{"rendered":"Victoria\u2019s Secret\u2019s stock rallies on more upbeat third-quarter forecast, but retailer says its products don\u2019t stand out enough"},"content":{"rendered":"
\n

Shares of Victoria\u2019s Secret & Co. rose after hours on Wednesday after the maker of bras, lingerie and sleepwear said it could lose less than previously thought during the third quarter, as plans to boost growth help it navigate weaker demand for intimate wear. <\/p>\n

Shares of Victoria\u2019s Secret
\n VSCO,
\n -8.69%<\/bg-quote>
\n were up 3.2% after hours. <\/p>\n

\n

The company said it expected a third-quarter adjusted net loss per share of 70 cents to 90 cents, compared with a prior outlook for a loss of 70 cents to $1 a share. <\/p>\n

Victoria\u2019s Secret said it expected sales to fall between 3% to 5% in the third quarter, compared with an earlier forecast for a drop in the \u201clow- to mid-single-digit range.\u201d And it said sales trends in North America had improved over the period. <\/p>\n

Victoria\u2019s Secret said it was sticking to its full-year outlook for a sales decline in the \u201clow-single-digit range.\u201d <\/p>\n

Executives made the forecast ahead of an investor meeting set for Thursday. They said that their efforts to jump-start growth were \u201ctracking well ahead of our plan as evidenced by significant growth in our international business and the acquisition of the Adore Me brand.\u201d Victoria\u2019s Secret bought Adore Me, an online intimates brand, early this year. <\/p>\n

The company made the upbeat forecast after outlining plans last year to revive growth, after rising prices for basic goods led to weaker clothing demand. Chief Executive Martin Waters said the company\u2019s costs were falling but difficulties persisted. <\/p>\n

\u201cThe strategic priority to strengthen our core business in North America has been our most challenged work over the past year as the macroeconomic environment has become more uncertain, the domestic intimates market has softened, and our merchandise assortment has been insufficiently differentiated,\u201d he said.<\/p>\n

Last year, Victoria\u2019s Secret leadership outlined plans to capture more of the market for bras, intimate wear and beauty products, along with efforts to be \u201cmore inclusive\u201d and draw a broader audience. It also tried to strengthen its position internationally, and bring new brands under its umbrella, either \u201corganically or through investments.\u201d <\/p>\n

Management said that at the meeting on Thursday, it would detail multi-year plans to boost sales and profits, plans to expand into new regions globally, and how Adore Me, which it said functioned as a \u201ctech powerhouse,\u201d can help grow sales. <\/p>\n

Shares of Victoria\u2019s Secret are down 54.7% so far this year. The S&P 500 Index
\n SPX
\n is up 14.5% over that period. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Victoria\u2019s Secret & Co. rose after hours on Wednesday after the maker of bras, lingerie and sleepwear said it could lose less than previously thought during the third quarter, as plans to boost growth help it navigate weaker demand for intimate wear. Shares of Victoria\u2019s Secret VSCO, -8.69% were up 3.2% after hours. […]<\/p>\n","protected":false},"author":1,"featured_media":71702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-71701","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nVictoria\u2019s Secret\u2019s stock rallies on more upbeat third-quarter forecast, but retailer says its products don\u2019t stand out enough | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Victoria\u2019s Secret & Co. rose after hours on Wednesday after the maker of bras, lingerie and sleepwear said it could lose less than\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=71701\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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