New York, June 3, 2026, 06:05 (EDT)
Victoria’s Secret & Co. shares slipped in early premarket Wednesday, cooling off after the stock jumped 47% and closed at a record on its first session with the new VSXY ticker.
The stock ended Tuesday at $80.06, gaining 47.44%. In premarket trading, shares were indicated at $77.78, down 2.85%. That came after the company posted a stronger quarter and raised its 2026 profit forecast sharply.
Victoria’s Secret switched its NYSE ticker to VSXY from VSCO on June 2, lining it up with its first-quarter results release. The company said the new symbol signals a stronger brand direction after years of mixed messaging.
Victoria’s Secret (VSCO) posted a 15% jump in first-quarter net sales to $1.560 billion, with comparable sales up 13%. Adjusted operating income came in at $80 million, beating the forecast range of $32 million to $42 million. The results raise the question for investors of whether CEO Hillary Super’s turnaround is shifting from hype to real earnings.
Super said it’s a “very strong start to 2026” and that the company is “increasingly confident” in its path. Chief Financial and Operating Officer Scott Sekella noted “higher regular-price selling” with fewer promotions, which is important for a retailer looking to boost margins away from discounting. Victoria’s Secret & Co.
Victoria’s Secret now sees full-year sales between $7.03 billion and $7.13 billion, up from the $6.85 billion to $6.95 billion it gave before. Adjusted operating income guidance also got bumped to a range of $550 million to $580 million from the earlier $430 million to $460 million. Second-quarter sales are expected at $1.590 billion to $1.615 billion.
Shares swung sharply. Reuters said the stock jumped to a record $81.28 on Tuesday. About 19% of the public float was sold short, so many traders had been betting against the stock. As those bets went wrong, short covering helped drive the surge, known as a short squeeze. Telsey Advisory’s Dana Telsey said the “leadership team and strategies are beginning to bear fruit.” Reuters
Goldman Sachs analyst Brooke Roach said the quarter was a “very strong result” and pointed to broad-based momentum. Goldman lifted its price target to $56 but stayed at Neutral. BofA Securities kept its Buy rating with a $68 target. BofA noted the 13% comparable-sales gain and better margins as signs the brand turnaround is making progress. Investing.com
UBS moved Victoria’s Secret down to Neutral from Buy, lifting its target to $90. UBS said the Buy call had mostly played out after four strong quarters for same-store sales. Jefferies also cut Victoria’s Secret to Hold from Buy, and took its target to $73, pointing to better recognition in the market for the turnaround.
Victoria’s Secret’s first-quarter beat puts the spotlight on other specialty-apparel names like Abercrombie & Fitch, American Eagle, and Gap. That’s its main peer set, based on the company’s proxy. The result increases pressure on those retailers to deliver growth without cutting into margins with more aggressive promotions.
U.S. stock-index futures hung near record levels early Wednesday. Oil prices pushed higher, Reuters said. The stock moved in premarket action ahead of the NYSE’s main session, which goes from 9:30 a.m. to 4:00 p.m. Eastern.
The risks are more obvious after a stock almost doubles in a single session. There’s just not as much space for letdowns. Victoria’s Secret has its own list of worries—tariffs, shaky consumer confidence, swings in the stock and activist shareholders. The company is also up against a proxy fight with BBRC International before the annual meeting on June 11.
Execution is the next hurdle. Investors are eyeing if bra sales, PINK, and Beauty keep pulling in shoppers at full price, and if second-quarter guidance stands up to any tariff hit or soft spending. Right now, the stock has moved to lower expectations quicker than the company has been able to show results for the full year.
