Victoria's Secret's stock plunges 30% in worst day ever as lingerie sales tank
VSCOVictoria’s Secret & (VSCO) New York Post·2024-03-08 03:08

Victoria’s Secret’s shares suffered their worst day ever after the lingerie maker gave a surprise warning that it expects its sales will drop this year as a turnaround bid has failed to take shape.The company’s shares fell by a record 30% on Thursday — the biggest decline since its IPO in July 2021, according to Bloomberg — after it issued disappointing results for the crucial holiday period and said sales would decline in 2024.In the quarter ended Feb. 3, comparable store sales fell 6%, the company said. I ...