Shares of Victoria’s Secret dropped Thursday, extending a rough downward ruꦚn for the lingerie retailer.

The company late yesterday reported fourth-quarter financial results that included a 1%-year-over-year rise in sales to $2.1 billion, a better-than-expected increase according to the consensus of analysts tracked by Visible Alpha. Victoria's Secret (VSCO) CEO Hillary Super s𓆉aid holiday-quarter sales were up for Victoria’s Secret, PINK, and the company's beauty business.

Still, investors may have hoped for stronger revenue guidance. The company forecasts net sales for 2025 to be between $6.2 billion and $6.3 billion, a year-over-year increase of 0.3%, versus 0.9% in 2024. Visible Alpha's current consensus estimate for the current year is for $6.24 billion, roughly in line with guidance.

“As we begin the new year, we recognize the macro environment is uncertain and consumer confidence has shifted,” the company said in a press release. "Our forecast assumes that the environment will gradually get better as we move through the year and as we execute on our strategies designed to grow sales in both our North America and International businesses.”

Shares of Victoria's Secret finished Thursday more than 8@ lower, closing at a bit over $20 apiece. They're down some 20% this year and well below December highs near $49.

Net 💜income rose year-over year in the fourth quarter, to $193 million from $181 million.