VSXYVictorias Secret & Co.Q2 2027Sep 03, 2026, 7:10 AM EDT
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Earnings Report· 2026-09-03

VSXY

Q2 · 2027Pre-Market
Victorias Secret & Co.
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

MetricQ2 2026Q2 2025YoY 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

MetricQ3 2026 OutlookFY 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.