Victoria's Secret & Co (NYSE: VSCO) witnessed a pre-market surge of 5.78% on Tuesday, driven by the company's upbeat financial projections and better-than-expected quarterly performance.
In a recent announcement, Victoria's Secret revised its financial outlook, projecting a modest increase in net sales for the fiscal year 2024, with expectations of a 1% to 2% rise. Additionally, the company anticipates a 2% to 4% sales growth in the fourth quarter of 2024, reflecting positive momentum in its business operations.
Furthermore, Victoria's Secret reported improved earnings results for the third quarter of 2024, with sales reaching $1,347.42 million and a reduced net loss compared to the same period last year. These favorable financial results and optimistic projections have likely fueled investor confidence, leading to the pre-market surge in the company's stock price.
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