BUZZ-Victoria’s Secret CFO to retire; shares down

Shares of lingerie maker Victoria’s Secret VSCO.N fall ~7% to $35.35 premarket

Co says chief financial officer (CFO) Timothy Johnson is retiring in June after working with VSCO for nearly four years

Says Johnson to be succeeded by Scott Sekella, former CFO of fabric and crafts retailer Joann

Expects Q4 net sales to grow in the range of 3% to 4% vs prior forecast of 2% to 4%

Expects quarterly adj. earnings per share between $2.20 and $2.30 vs prior range of $2 to $2.30

While co's initiatives are working, near-term top line trends are partly pressured by macro-related headwinds, which may obscure underlying brand recovery efforts - Corey Tarlowe, analyst with Jefferies

VSCO rose about 56% in 2024