Victoria’s Secret (VSCO) shares jumped in intraday trading on Wednesday after the company named a new chief executive officer and reported preliminary second-quarter adjusted earnings per share (EPS) that beat previous forecasts.

The fashion retailer has nominated Hillary Super for the top job, effective September 9. Super was most recently CEO of Savage X Fenty, a lingerie company founded by Rihanna, and before that was Global CEO of the Anthropologie Group.

Super will replace Martin Waters as CEO. Chief Financial Officer (CFO) Timothy Johnson will serve as interim CEO.

Victoria’s Secret expects adjusted earnings per share for Q2 significantly above forecast

Victoria’s Secret, which will report second-quarter results on August 29, now expects adjusted earnings per share of 34 cents to 39 cents, well above its original forecast of 5 cents to 20 cents. The company expects North American sales to improve for the fourth consecutive quarter.

“Improving product acceptance and disciplined inventory management resulted in strong margin development, and our teams remain relentlessly focused on improving our cost structure. This combination resulted in year-over-year operating income growth for the first time since 2021,” Johnson said.

Victoria’s Secret stock was trading 13% higher at $21.54 as of 12:40 p.m. ET on Wednesday. Despite today’s gains, the company’s shares have fallen about 19% since the beginning of the year.