2023-11-30 12:33:34 ET
Shares of Victoria's Secret (NYSE: VSCO) scored a 15.2% gain through 11:30 a.m. ET on Thursday morning despite an earnings miss last night.
Analysts weren't particularly optimistic about the lingerie retailer's performance going into Q3 results, forecasting a $0.78-per-share loss on sales of $1.27 billion. And as it turned out, the news was even worse than that. Although Victoria's Secret met expectations for sales, it missed the earnings forecast, reporting a loss of $0.86 per share.
And that was just the non-GAAP (adjusted) result. Measured according to generally accepted accounting principles ( GAAP ), Victoria's Secret actually performed a bit worse, with losses totaling $0.92 per share (versus a $0.29-per-share profit one year ago). This number was within the company's guidance range for the quarter, albeit toward the low end, and below Wall Street's forecast as well.
For further details see:
Why Victoria's Secret Stock Soared 15% Today