Shares of the newly formed Victoria’s Secret & Co. were up more than 28 percent during its first day of trading.
The lingerie business, along with Victoria’s Secret Beauty and the Pink division, officially separated from Bath & Body Works on Tuesday morning. Shares of the newly formed Victoria’s Secret & Co., which now stands alone on the New York Stock Exchange and trades under the “VSCO” stock ticker, surged more than 28 percent as a result.
“We are thrilled to have reached this milestone and to launch Bath & Body Works as a stand-alone public company,” Andrew Meslow, chief executive officer of Bath & Body Works, said in a statement. “Innovation remains at the foundation of Bath & Body Works and with our leadership positions across key product categories, strong performance across channels and highly loyal and growing customer base, we are poised to continue our track record of industry-leading growth and profitability.
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