Victoria's Secret raised its annual outlook after third-quarter revenue exceeded Wall Street expectations. The retailer now expects a 2% revenue increase for the year, an upgrade from its previous forecast of a 1% decline. This marks the first earnings report under CEO Hillary Super, who was brought in to steer the company’s turnaround. Victoria’s Secret has faced years of challenges, including declining demand, rising competition from new lingerie brands, and workplace misconduct allegations. Shares have risen over 60% year-to-date, outpacing the S&P 500 Index's 27% gain.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Victoria's Secret raised its annual outlook after third quarter revenue exceeded Wall
00:06Street expectations. The retailer now expects a 2% revenue increase for the year, an upgrade
00:11from its previous forecast of a 1% decline. This marks the first earnings report under CEO Hillary
00:17Super, who was brought in to steer the company's turnaround. Victoria's Secret has faced years of
00:22challenges, including declining demand, rising competition for new lingerie brands, and workplace
00:27misconduct allegations. Shares have risen over 60% year-to-date, outpacing the S&P 500 index's
00:3427% gain. For all things money, visit Benzinga.com slash GSTV.