| Metric | Value ($ M) | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue | 1.5K | 0.9% | 9.3% |
| Total Income | 1.5K | 0.9% | 9.3% |
| Expenditure | 1.5K | 5.2% | 7.0% |
| PBT | — | ||
| Net Profit | -37.00 | 331.3% | 33.9% |
| OPM | -1.29% | 4.10pp | 2.20pp |
| NPM | -2.51% | 3.61pp | 1.64pp |
| EPS | -0.46 | 330.0% | 35.2% |
Victoria’s Secret & Co. Reports FY 2025 Results, Sales Up 5%
04 May 2026 · 4 May, 12:41 am
Summary
Victoria’s Secret & Co. reported strong financial results for the fourth quarter and full year 2025. Net sales for the fourth quarter increased by 8% to $2.270 billion, while full year net sales grew by 5% to $6.553 billion. The company's adjusted operating income for fiscal year 2025 was $403 million. Looking ahead, the company forecasts fiscal year 2026 net sales to be in the range of $6.850 billion to $6.950 billion.
Key Highlights
- 1
Victoria’s Secret & Co. reported net sales of $2.270 billion for the fourth quarter of 2025, an increase of 8% compared to the fourth quarter of 2024.
- 2
Comparable sales increased 8% in the fourth quarter and 5% for the full year 2025.
- 3
The company reported net sales of $6.553 billion for fiscal year 2025, an increase of 5% compared to fiscal year 2024.
- 4
Adjusted operating income for fiscal year 2025 was $403 million, exceeding the previously communicated guidance range.
- 5
Adjusted earnings per diluted share was $3.00, representing 22% growth versus last year, excluding last year’s cumulative gift card breakage adjustment.
- 6
The company is forecasting fiscal year 2026 net sales to be in the range of $6.850 billion to $6.950 billion compared to net sales of $6.553 billion in fiscal year 2025.
Management Comments
Hillary Super
We delivered an exceptional fourth quarter and a standout year, exceeding top- and bottom-line guidance with broad based outperformance across brands, channels and geographies. We drove meaningful acceleration in the second half of the year, with fourth quarter net sales of $2.270 billion and comparable sales growth of 8%. In the quarter, our customer responded enthusiastically to our product and marketing, as demonstrated by growing new customer acquisition and increased AURs. Our 2025 results reflect the progress we have made against our Path to Potential strategy as we build brand heat and powerful connections with our customers around the world. We enter fiscal 2026 from a position of strength. With a clear brand vision, a faster and more agile operating model, and a strong pipeline of product and brand moments ahead, we are confident in our ability to deliver profitable growth and create long‑term shareholder value.
Scott Sekella
Our results reflect disciplined execution, strong margin performance, and increased operational agility. We delivered adjusted operating income of $403 million in fiscal year 2025, despite approximately $85 million of tariff pressure. Our adjusted earnings per diluted share was $3.00, representing 22% growth versus last year, excluding last year’s cumulative gift card breakage adjustment. Our Path to Potential strategy is accelerating the Company’s growth, reinforcing our confidence in our fiscal 2026 guidance.
Informational and educational content only. Not investment advice.