Shares of The secret of Victoria ( VSCO 16.41% ) Stock prices rose significantly today following the announcement of a new CEO, Hillary Super, at the struggling apparel company. Investors appear optimistic that this decision will bring about a positive change in the company’s performance.
At 1:17 p.m. Eastern Time on Wednesday, the stock had increased by 14.6% following the news.
Introducing the new leader
Victoria’s Secret announced today that Super will be taking over as CEO and board member, replacing Martin Waters. The transition is set to take place on September 9th.
Super was previously the chief executive officer of Savage X Fenty, a brand specializing in intimates and accessories, as well as the worldwide CEO of Anthropologie, a brand that is under the same ownership. Urban Outfitters is a popular retail chain that offers trendy clothing and accessories for young adults. The company announced that she has thirty years of experience in merchandising, and Donna James, the board chair, stated, “VS&Co is excited to have Hillary as our new CEO to lead the next phase of our business and focus on the key aspect of our transformation plan: speeding up the growth of our primary operations in North America.”
Customer holding shopping bags.
Additionally, the company announced initial second-quarter results that exceeded expectations slightly, showing a decrease in sales of 1% to 2% instead of the previously projected 1% to 3% decline.
Furthermore, the adjusted earnings per share are expected to exceed the projected range, with a range of $0.34 to $0.39, surpassing the initial forecast of $0.05 to $0.20.
Is it possible for Super to reverse the business’s fortunes?
Victoria’s Secret has significantly declined from its previous status and is now valued much lower compared to its peak about ten years ago, when it was the main focus of L Brands.
Returning to the previous status is improbable due to shifts in the market for women’s undergarments and the emergence of new competitors. However, there are opportunities for enhancing the business, with an emphasis on increasing sales growth being a key focus.
Monitor Super’s new projects closely as she assumes control; investors may react positively to additional modifications within the company. apparel stock .
