Victoria's Secret & Co. (NYSE:VSCO) stock slid after hours Wednesday after the company posted a wider-than-expected third-quarter loss.
The clothing retailer posted an adjusted loss of $0.86 per share, compared to a $0.78 per share loss expected by analysts. Revenue was $1.27 billion, down from $1.31 billion a year earlier and in line with expectations.
“We delivered third-quarter results within our guidance range, and we are encouraged by the improving sales trend as we transition into the all-important holiday season,” CEO Martin Waters said in a statement. “Our sales trend in North America continued to improve as planned each month throughout the third quarter with October being our strongest month."
Looking ahead, Victoria’s Secret guided for fourth-quarter earnings between $2.20 and $2.60 per share, compared to analyst expectations of $2.44 per share.
Shares of the company popped 5.6% on Wednesday ahead of the earnings release but have slid 1.4% in the aftermath.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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