The Victoria's Secret store is at a mall in San Diego, California.
Victoria's Secret said it had strong sales over the holidays and its shares rose early Wednesday.
Its stock is up in premarket trading. Its market value was $4.29 billion on Tuesday after its shares closed at $48.58
Victoria's Secret is working with Goldman to buy back $250 million of its own stock. The plan is expected to be completed by the first quarter of 2022. The company will receive 4.1 million shares on the 31st.
After years of declining sales, Victoria's Secret is trying to stage a comeback. It has begun to change its image, moving away from a heavy emphasis on sexy models, adding plus-size mannequins and breaking into new categories like maternity and shapewear. The fashion show featured models in bedazzled bras, underwear and angel wings after the event's audience plummeted.
Marvin Waters said in a press release that the company had a large rush of business ahead of Christmas, and that sales grew during peak shopping days over the holiday season. He said the store has inventory ready for the sale.
The company shared its fourth-quarter forecast in November. It said that sales will be in the range of flat to up 3% compared to last year's fourth quarter, and that the earnings per share will be in the range of $2.35 to $2.65.
Waters said that the company has created a platform for future growth by stabilizing its business.
