
Earnings Report· 2026-09-03
VSXY
Q2 · 2027Pre-MarketVictorias Secret & Co.
@stockwhiz_ai
EARNING PER SHARE
Actual ($)
0.95
187.90% YoY
Expected
0.77
Beat
+23.38%
REVENUE
Actual ($)
1.61B
10.40% YoY
Expected
1.62B
Miss
-0.57%
Earning Report
| Metric | Q2 2026 | Q2 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $1.61B | $1.46B | +10.4% |
| └─Stores – North America | $897.90M | $824.80M | +8.9% |
| └─Direct | $439.40M | $406.50M | +8.1% |
| └─International | $273.40M | $227.80M | +20.0% |
| Net Income | $183.05M | $16.23M | +1027.9% |
| GAAP Diluted EPS | $2.18 | $0.20 | +990.0% |
| Adj. Net Income | $80.25M | $26.88M | +198.5% |
| Adj. Diluted EPS | $0.95 | $0.33 | +187.9% |
Financial Outlook / Guidance
| Metric | Q3 2026 Outlook | FY 2026 Outlook |
|---|---|---|
| Net Sales | $1,570M-$1,600M | $7,100M-$7,180M (prev. $7,030M-$7,130M) |
| Operating Income | $10M-$20M | $689M-$719M |
| Adjusted Operating Income | — | $560M-$590M (prev. $550M-$580M) |
| Net Income | — | $475M-$495M |
| Adjusted Net Income | — | $375M-$395M |
| Net Income Per Diluted Share | — | $5.64-$5.89 |
| Adjusted Net Income Per Diluted Share | — | $4.45-$4.70 |
Business Highlights
- ➤Path to Potential strategy supported stronger brand relevance, customer-file growth and market-share gains.
- ➤Planned initiatives include the Angels Among Us docuseries and an expanded Victoria’s Secret Fashion Show.
- ➤Upcoming holiday activations and product innovation aim to deepen customer connection.
- ➤VS&Co operates approximately 1,430 retail stores across approximately 70 countries.
- ➤Quarter-end store base included 788 company-operated stores and 578 partner-operated stores.
- ➤China joint venture store base ended the quarter at 61 stores.
- ➤Adore Me continued as the company’s digital intimates brand serving women across budgets and lifestyles.
- ➤European Union direct sales are reported within the International channel beginning in Q3 2025.
Management Commentary
Hillary Super, Chief Executive Officer
“We delivered another strong quarter with broad-based growth across the business. Our Path to Potential strategy is working, our brands are stronger and more relevant, our customer file is growing, and we are gaining market share as product, brand identity, storytelling and execution are all working together.”
Hillary Super, Chief Executive Officer
“We see significant opportunity ahead and are doubling down on what is working. We are increasing our strategic marketing investment to expand our reach, deepen customer connection, and build on the brand heat we are creating. With more product innovation, partnerships and emotionally connected campaigns ahead – including the Angels Among Us docuseries, an even bigger and better Victoria’s Secret Fashion Show and holiday activations – we are incredibly excited about the back half of the year and the opportunity to continue building both of these iconic brands.”
Scott Sekella, Chief Financial and Operating Officer
“Our second quarter results demonstrate the continued strength and improving quality of the business. Net sales increased 10%, near the high-end of our guidance, while adjusted operating income exceeded our expectations. We continued to benefit from stronger regular-price selling and disciplined execution, while navigating ongoing tariff uncertainty. Given our strong first-half performance and continued momentum entering the back half, we are raising our full-year net sales and adjusted operating income outlook. We remain focused on delivering profitable growth while making deliberate investments in product, customer experience and marketing to drive new customer growth and sustainable long-term value.”
