Investor Alert

Aug. 3, 2021, 12:14 p.m. EDT

Newly-separated Victoria's Secret soars more than 26% on first trading day

Victoria's Secret & Co. (NYS:VSCO) shares soared 26.3% on the company's first day trading on its new ticker, with the stock at $58.79 by midday on Tuesday. The L Brands Inc. separation of Victoria's Secret and Bath & Body Works Inc. (NYS:BBWI) is complete, with Bath & Body Works stock tumbling 2.5% on Tuesday, trading at $63.02. Victoria's Secret, which is undergoing a turnaround to focus on women's empowerment and diversity, says it sees opportunity in areas like maternity and in locations outside of traditional malls. The SPDR S&P Retail ETF (PSE:XRT) has rallied 48% for the year to date while the S&P 500 index (S&P:SPX) is up 16.8% for the period.

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