India, Jan. 29 -- Victoria's Secret & Co. (VSCO) experienced a 5.30% drop in its stock price following the announcement of leadership changes and updated financial guidance.
Currently, the stock is trading at $35.89, down by $2.01 from its previous close of $37.90. The company announced that Chief Financial and Administrative Officer Timothy Johnson will retire in June, with Scott Sekella appointed as the new Chief Financial Officer.
In addition to the leadership changes, Victoria's Secret updated its financial guidance for the fourth quarter of 2024. The company now expects net sales to increase by 3% to 4%, compared to the previous guidance of 2% to 4%. Adjusted operating income is now projected to fall between $260 million and $270 mil...