Victoria's Secret & Co. (NYSE: VSCO) has experienced a notable surge in its stock price, reaching its highest level since May 2022. This comes after the company raised its full-year sales forecast, signaling a successful turnaround strategy under the leadership of new CEO Hillary Super. The lingerie giant's shares rose as much as 13.2% to $48.70, marking a 62% increase year-to-date, significantly outperforming the Russell 2000 Index.

The company reported third-quarter revenue of $1.35 billion, surpassing analysts' expectations of $1.29 billion, and posted an adjusted loss per share of 50 cents, better than the anticipated 63 cents loss. This performance was bolstered by strong sales across all brands, including Victoria's Secret, PINK, and Adore Me, with international business growth exceeding 20%.

Victoria's Secret's improved outlook now projects fiscal year 2024 net sales to increase by 1% to 2%, a revision from the previous forecast of a 1% decline. The company also anticipates annual adjusted operating income to reach up to $345 million, a 15% increase from earlier projections.

The positive momentum continued through key retail events such as Black Friday and Cyber Monday, with the company's holiday merchandise receiving an early positive response from consumers. This success is attributed to effective marketing strategies, including the PINK back-to-campus campaign and the VSX sport launch.

Brokerages have shown mixed reactions, with four out of twelve rating the stock as "buy" or higher, while others remain cautious. Despite this, the market's response to the company's strategic initiatives and leadership changes has been overwhelmingly positive, as reflected in the stock's performance.

Victoria's Secret's commitment to brand repositioning and merchandise strategy, coupled with enhanced store experiences and digital engagement, has positioned the company for continued growth. The company's ability to navigate a challenging retail environment and capitalize on consumer trends underscores its resilience and adaptability in the competitive lingerie market.