Victoria's Secret shares declined in premarket trading even after the lingerie retailer reported stronger-than-expected fourth-quarter results. The company posted earnings per share of $2.77, beating analyst estimates of $2.47, with revenue reaching $2.27 billion compared to the $2.22 billion consensus estimate.

Comparable sales grew 8% in the quarter, while full-year comparable sales rose 5%. Adjusted operating income for the fourth quarter totaled $316 million, exceeding the company's previously communicated guidance range. CEO Hillary Super described the performance as exceptional, noting broad-based outperformance across brands, channels, and geographies.

The stock's negative reaction came despite an upbeat outlook. Victoria's Secret forecasts first-quarter revenue between $1.49 billion and $1.525 billion, above the $1.42 billion consensus estimate. For the full fiscal year, the company projects revenue of $6.85 billion to $6.95 billion, compared to the $6.77 billion consensus.