Victoria's Secret (VSCO.US) announced that its new CEO's Q2 EPS beat expectations. The stock rose more than 14% before the market opened.

Victoria's Secret (VSCO.US) announced a leadership change on Wednesday, with Hillary Super set to become the company's new CEO and board member, effective September 9, 2024.

Super has nearly three decades of retail experience, most recently as the CEO of Lululemon.

She will replace Martin Waters, who will continue to serve as an advisor to the company until August 31, 2024, to support a smooth transition. Timothy Johnson, Victoria's Secret's CFO and Treasurer, will serve as interim CEO until September 8, 2024.

In addition, Victoria's Secret announced its preliminary second-quarter results, which are expected to meet or exceed the company's previously issued guidance range.

The retailer expects net sales to decline 1% to 2% (from 1% to 3% previously), with adjusted earnings per share of $0.34 to $0.39 (from $0.05 to $0.20 previously), well above the $0.16 expected by Wall Street.

Victoria's Secret's North American quarterly sales grew for the fourth consecutive quarter, as both brick-and-mortar and digital channels saw improved sales trends. In addition, higher product acceptance and strict inventory management drove strong second-quarter margin performance.

The company will report its full second-quarter results on Thursday, August 29.

Shares of Victoria's Secret were up more than 14% in pre-market trading as of the time of this writing.