• For the first quarter, Victoria’s Secret reported total sales of $1.56 billion and adjusted earnings per share of $0.60, both ahead of estimates.
• Total comparable sales rose 13% during the quarter, reversing last year's negative growth.
• For the full year, it raised its forecast to $7.03-$7.13 billion, up from $6.85-$6.95 billion.

Shares of Victoria’s Secret (VSXY) rallied on Tuesday after the lingerie retailer reported first-quarter results that surpassed analysts' expectations, driven by double-digit sales growth across its portfolio of key brands, and raised its forecast.

At the time of writing, VSXY stock was up nearly 45% and on track for its biggest-ever percentage gain if session gains hold.

It is also notable that the company’s ticker change from VSCO to VSXY, which was announced in May, took effect on Tuesday.

Gaining Cultural Relevance

The company said it saw significant momentum for its namesake and PINK brands, and its beauty products during the first quarter, benefiting from cultural relevance and an expanding customer base.

“Our customer responded strongly to our product innovation, emotionally resonant storytelling, and distinct brand projection, driving double-digit growth in new customer acquisition, increased regular-price selling, and broad-based strength across categories, channels, and geographies,” said CEO Hillary Super.

Q1 Numbers At A Glance

For the first quarter (Q1), Victoria’s Secret reported a 15% surge in total sales to $1.56 billion, ahead of the $1.52 billion estimate polled by Fiscal AI. It reported adjusted earnings per share (EPS) of $0.60, ahead of the $0.32 estimate.

Total comparable sales rose 13% during Q1 this year compared to a negative growth of 1% for the same period last year.

For the second quarter, the company expects total sales between $1.59 billion and $1.62 billion, ahead of the $1.56 billion estimate. For the full year, it raised its forecast to $7.03-$7.13 billion, up from $6.85-$6.95 billion and ahead of the $6.96 billion estimate.

What Do Retail Traders Think About VSXY?

On Stocktwits, retail sentiment about VSXY remained ‘neutral’ over the last 24 hours.

One user on the platform cheered the strong EPS beat.

VSXY stock has surged more than 47% so far this year and has nearly quadrupled in value over the last 12 months, outperforming the S&P 500.

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