Victoria’s Secret (NYSE:VSCO) shares are on the rise with the women’s specialty retailer’s Investor Day slated for today. The company has announced key insights into its strategic plan focused on driving its growth initiatives.
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The company is seeing substantial growth in its international business, and its acquisition of the Adore Me Brand is helping VSCO realize synergy opportunities. More details on VSCO’s strategy to expand its global presence and drive sales and profitability over a multi-year period are anticipated today.
Impressively, VSCO has experienced sequential month-on-month growth since August and expects an adjusted operating loss for the third quarter in the range of $45 million to $65 million, compared to prior expectations between $45 million and $75 million. In sync, it has narrowed adjusted net loss per share expectations to between $0.70 to $0.90 from the earlier range of $0.70 to $1. Analysts expect the company to incur a net loss per share of $0.80 on revenue of $1.27 billion for the quarter.
Is VSCO a Good Stock to Buy?
Net sales for the full year 2023 are anticipated to decline in the low-single-digit range, with an adjusted operating margin between 5% to 6%. Overall, the Street has a Hold consensus rating on VSCO. The average Victoria’s Secret price target of $20.33 implies a substantial 36.2% potential upside.
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