Victoria's Secret Stock Sinks After Issuing Soft Sales Outlook—Key Area to Watch

Key TakeawaysVictoria's Secret shares fell 26% in extended-hours trading after the company issued cautious sales guidance below analysts' expectations amid softness in the North American intimate apparel market.The company announced a new stock buyback program, authorizing the repurchase of up to $250 million of the company’s common stock. A close below an important zone of support between$20 and $21.50 could open the door to a retest of the stock's record low at$13.62. Victoria's Secret (VSCO) shares slu ...