Why Victoria's Secret Stock Soared 15% Today
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.
Source Fool.com
