Victoria’s Secret Pops on Accelerated Buyback, Repeating Outlook By Investing.com – Investing.com

Victoria’s Secret Pops on Accelerated Buyback, Repeating Outlook By Investing.com – Investing.com

By Dhirendra Tripathi

Investing.com – Victoria's Secret stock (NYSE:) soared 9% in Wednesday’s premarket after the company revealed an accelerated share repurchase plan while also reiterating its fourth-quarter sales, operating income and earnings guidance.

The company said its first-ever share repurchase covers around 4.1 million shares worth $250 million, to be bought Friday from Goldman Sachs. The final settlement of the volume it will buy and the price to be paid is expected to be completed in the first quarter of 2022, the retailer said.