Why is Victoria's Secret (VSCO) Stock Trading Sharply Higher Today
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Victoria’s Secret & Co. Announces $250 Million Accelerated Share Repurchase Program
December 29, 2021 7:30 AM ESTREYNOLDSBURG, Ohio, Dec. 29, 2021 (GLOBE NEWSWIRE) -- Victorias Secret & Co. (Victorias Secret or the Company) (NYSE: VSCO) today announced that it has entered into an accelerated share repurchase agreement (ASR) with Goldman Sachs & Co. LLC (Goldman Sachs) to repurchase $250 million of the Companys common stock. The Company also reaffirmed fourth quarter sales, operating income and earnings guidance.
Under the ASR, the Company will make an initial payment of $250 million to Goldman Sachs and will receive an initial delivery of approximately 4.1 million shares of the Companys common stock on December 31, 2021.... More
