.August 14, 2024 1:02:00 PM

Victoria’s Secret & Co. (NYSE:VSCO) shares surged over 20% today after appointing Hillary Super as the new CEO, effective September 9, 2024. Super, a retail industry veteran, is expected to drive growth and enhance shareholder value at the company.

The market reacted positively to the leadership change, with investors optimistic about Super’s track record at brands like Savage X Fenty and Anthropologie. The appointment was accompanied by better-than-expected preliminary second-quarter results for Victoria’s Secret.

Preliminary second-quarter financial results showed a projected adjusted operating income of $57 to $62 million, exceeding previous guidance and consensus estimates. Adjusted earnings per share are expected to range between $0.34 and $0.39, surpassing initial forecasts and Street estimates.