On September 3, Victoria's Secret & Co declined 9.37% in regular trading, trading at $75.77/share, with turnover of $101 million. The sell-off followed the release of the company's fiscal Q2 earnings report before the market open.

Victoria's Secret & Co reported adjusted earnings per share of $0.95, beating the analyst consensus estimate of $0.77 by 23.38%, representing a 187.88% year-over-year increase. However, quarterly revenue of $1.611 billion fell short of the $1.619 billion estimate despite reflecting 10% year-over-year sales growth. The company also raised its full-year fiscal guidance, projecting sales in the range of $7.10 billion to $7.18 billion, compared with the FactSet consensus estimate of $7.14 billion. Management stated that its ongoing transformation strategy is showing tangible results.

Despite the earnings beat and raised outlook, investors focused on the slight revenue miss. The stock had already plunged approximately 18% in pre-market trading following the results, as the narrow shortfall in top-line sales overshadowed the otherwise strong quarterly performance and positive forward guidance.

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