Victoria’s Secret & Co. raised its fourth-quarter outlook on Wednesday, on the back of strong holiday sales, and named Scott Sekella as its new chief financial officer. 

Sekella will replace chief financial and administrative officer Timothy Johnson who will retire in June. Sekella joins the company from fabric and crafts retailer Joann, where he served as CFO. He also previously held financial leadership roles at Under Armour and Crocs.

“We are excited to welcome Scott to VS&Co. He is a transformational leader with extensive and diverse retail experience delivering results, driving operational efficiencies, and executing growth strategies,” said VS&Co chief executive officer, Hillary Super. 

“He has a strong retail background and record of identifying and accelerating strategies that strengthen performance and enhance profitability which I believe make him the right partner to help lead the next chapter of growth for the company.”

Coinciding with the nomination, the Reynoldsburg, Ohio-based company said sales will rise as much as 3% to 4% in the fourth quarter ending February 1, 2025. That’s up from a previous outlook calling for a jump of 2% to 4%. 

Meanwhile, adjusted operating income will be between $260 to $270 million, up from previous predictions of $240 to $270. Adjusted diluted earnings per share are expected to be in the range of $2.20 to $2.30, up from the prior range of $2.00 to $2.30. 

“We are pleased with our holiday results and our improved outlook for the fourth quarter. The momentum of our sales results for North America continued from third quarter through November and December across both our stores and digital channels, and our international business growth is also delivering on expectations,” added Super. 

“From a merchandise perspective, newness of product is winning and resonating with customers across both the Victoria’s Secret and Pink brands and our beauty business was a winner again this holiday season. We are experiencing increased levels of traffic to our stores and our digital site which we believe is reflective of our improved merchandise offering and the positive impact of the VS Fashion Show in late October. We exited the holiday and our January semi-annual sale in a good inventory position and ready for Valentine’s Day and first quarter selling.”