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Investing.com -- Victoria’s Secret on Wednesday announced the appointment of Scott Sekella as its new chief financial officer (CFO), who will take over from Timothy Johnson upon his retirement in June.
Sekella comes with a strong background in retail, having previously occupied financial leadership roles at Joann.
Alongside the announcement of this executive transition, the lingerie retailer expressed satisfaction with its financial performance over the holiday season. The company has also adjusted its financial forecast for the fourth fiscal quarter ending on Feb. 1.
Victoria’s Secret has revised its sales growth projection for the quarter, now expecting a growth rate of between 3% and 4%, excluding the extra week last year. This is a slight increase from its previous forecast of 2% to 4% growth.
In terms of earnings per share, the company has also tightened its expectations. On an adjusted basis, earnings per share are now anticipated to be in the range of $2.20 to $2.30 for the quarter. This is a raise from the previous target, which was set at $2 to $2.30.
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