Key Highlights

  • Victoria’s Secret surpassed Q4 earnings and revenue projections, delivering EPS of $2.77 compared to the anticipated $2.52
  • Quarterly sales climbed 8% year-over-year, reaching $2.27 billion
  • Comparable sales increased for three consecutive quarters — marking the strongest performance in four years
  • Full-year sales forecast of $6.85B–$6.95B exceeded Wall Street’s $6.8B projection
  • Shares fell more than 6% during premarket hours following the earnings announcement

Victoria’s Secret delivered impressive holiday quarter results, surpassing analyst projections for both earnings and revenue. Market participants responded with skepticism — shares tumbled over 6% during Thursday’s premarket session.

Adjusted earnings per share reached $2.77, exceeding the $2.52 consensus estimate from analysts. Quarterly revenue totaled $2.27 billion, representing an 8% increase from the prior year’s $2.11 billion, and surpassing the anticipated $2.23 billion.

The company reported net income of $183.63 million, or $2.14 per share for the quarter. This compares with $193.4 million, or $2.33 per share, during the equivalent period last year.


VSCO Stock Card
Victoria’s Secret & Co., VSCO

The reporting period concluded on January 31. Comparable sales surged 8%, significantly outpacing the 5.6% growth analysts had projected, according to StreetAccount data.

This performance represents the third straight quarter of positive comparable sales growth — the most sustained expansion in a minimum of four years, based on FactSet information.

CEO Hillary Super, who assumed leadership approximately 18 months ago, has been executing a transformation strategy centered on product innovation, marketing evolution, and brand positioning. The approach emphasizes the Pink collection, the company’s beauty segment, and reestablishing dominance in the bra market.

“Our customer responded enthusiastically to our product and marketing, as demonstrated by growing new customer acquisition and increased average unit retails,” Super said in a statement.

Forward Outlook Exceeds Projections

For the first quarter, the company anticipates sales ranging from $1.49 billion to $1.53 billion, surpassing Wall Street’s $1.42 billion estimate.

Full-year revenue guidance stands at $6.85 billion to $6.95 billion, exceeding the consensus forecast of $6.8 billion.

Operating income projections fall between $430 million and $460 million, compared to analyst expectations of $421 million.

The forecast assumes tariff rates remain at existing levels — preceding the Supreme Court’s decision to overturn several of the Trump administration’s expanded trade levies. Tariffs impacted adjusted operating income by approximately $85 million throughout the 2025 fiscal year.

DailyLook Evaluation Underway

Victoria’s Secret announced the initiation of a strategic assessment of DailyLook, a styling platform acquired through the Adore Me transaction in 2022.

The company characterized DailyLook as a “non-core asset.” Strategic evaluations of this nature frequently result in a divestiture.

The company recorded $119.6 million in impairment charges associated with Adore Me assets during the quarter.

Management noted that fiscal 2026 began with robust Valentine’s Day results, with positive trends extending into the current year.

VSCO shares have gained 11% year-to-date and approximately 194% over the trailing 12 months prior to Thursday’s trading session.