Victoria’s Secret delivered slightly better-than-expected Q1 2025 results with net sales of $1.35B and adjusted EPS near the top of guidance. Strong performance in Beauty, PINK apparel, and new lifestyle categories helped offset a modest decline in comparable sales.
Net sales reached $1.35B, slightly down from last year but above guidance range.
Net loss narrowed to $2M, with adjusted net income of $7M.
Adjusted EPS was $0.09, near the top of guidance range.
International segment grew 9.3%, offsetting declines in North America and Direct channels.
Victoria’s Secret reaffirmed full-year 2025 sales guidance but revised down operating income projections due to higher anticipated tariff impacts.
Visualization of income flow from segment revenue to net income
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