On Wednesday, May 28, Wells Fargo analyst Ike Boruchow reiterated an “Underweight” rating on Victoria’s Secret & Co. (NYSE:VSCO) with a price target of $15. This decision came after a major online service disruption that started on Monday and continued to affect the company’s retail websites and apps. The outage impacted e-commerce operations during the important Memorial Day sales period.
A middle aged woman in a boutique trying on intimate products.
Victoria’s Secret & Co. has not yet disclosed the cause of the outage. While there is speculation about possible ransomware or malware attacks, the company has not confirmed any details. The lack of updates from Victoria’s Secret & Co. has caused worry among both investors and customers.
Wells Fargo’s analysis highlighted feedback from store associates across the US, who gave different estimates about when the online systems might resume. Boruchow emphasized that Victoria’s Secret & Co. is falling because of these e-commerce challenges, with websites and apps down since Monday.
Victoria’s Secret & Co. is an American specialty retailer of lingerie, clothing, and beauty products. The company specializes in signature bras, panties, lingerie, casual sleepwear, athleisure and swimwear, as well as fragrances and body care.
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