Why Is Victoria's Secret Stock Trading Down Today?

Shares of Victoria's Secret & Co. VSCO are trading lower Thursday after the company posted lower first-quarter earnings per share results year-over-year and worse-than-expected first-quarter sales results.

What To Know: First-quarter earnings per share came in at 28 cents, a sharp decrease from earnings per share of $1.11 from the same quarter last year. Sales totaled $1.41 billion, narrowly missing the estimate of $1.42 billion.

"The first quarter continued to be a volatile macro environment for our customer and as the quarter progressed business became more challenging. Sales were in-line with our original expectations; however, we were more promotional than planned and ended the quarter at the lower-end of our adjusted operating income guidance," said CEO Martin Waters.

"Sales performance was particularly challenging in our core categories where there was significant decline in the overall stores and digital intimates market in North America."

Multiple analysts also lowered price targets following the print.

Telsey Advisory Group analyst Dana Telsey maintained Victoria's Secret at Market Perform and lowered the price target from $31 to $21. BMO Capital analyst Simeon Siegel maintained an Outperform rating and lowered the price target from $53 to $25 and BofA Securities analyst Lorraine Hutchinson maintained a Buy and lowered the price target from $50 to $30.

VSCO Price Action: Victoria's Secret shares were down 8.62% at $18.67 at the time of publication, per Benzinga Pro.

Photo: jacqueline macou from Pixabay.