Victoria's Secret shares surged approximately 40% following the company's release of first-quarter earnings results that exceeded analyst expectations and prompted management to raise its full-year outlook.

The lingerie and apparel retailer reported a profit of $47.7 million for the first quarter, marking a significant turnaround from a loss in the same period last year. The strong performance was driven by improved sales across the company's product categories, particularly in its core bra business.

Based on the positive quarterly results, Victoria's Secret raised its guidance for the full year, signaling management's confidence in the company's ongoing turnaround strategy. The retailer has been working to revitalize its brand and reconnect with consumers after facing challenges in recent years.

The earnings beat and revised outlook contributed to the sharp rise in Victoria's Secret's stock price, as investors responded favorably to signs that the company's restructuring efforts are gaining traction. The results suggest the retailer is making progress in stabilizing its business and returning to profitable growth.