Victoria's Secret Stock Gains 7% On Quarterly Results

Shares of Victoria's Secret & Co. (VSCO) are gaining over 7% on Wednesday morning after reporting its first-quarter results and outlook for the second quarter.

VSCO is currently trading at $44.36, up $3.15 or 7.65%, on the Nasdaq. The stock has traded between $38.48 and $76.00 in the 52-week period.

First-quarter profit was $80.8 million or $0.93 per share, compared to $174.0 million or $1.97 per share last year. Adjusted earnings were $1.11 per share, while analysts had expected earnings of $0.84 per share for the quarter.

The company reported sales of $1.484 billion, a decrease of 4.5% compared to sales of $1.554 billion in the prior year first quarter.

Looking forward to the second quarter, the company is forecasting sales to be up low-single digits to down low-single digits and earnings of $0.95 to $1.25 per share. Analysts currently estimate earnings of $1.19 per share on revenues of $1.59 billion for the quarter.

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