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Nov 01, 2025
Victoria's Secret Q3 2025 Earnings Report
Victoria’s Secret reported a net loss but exceeded expectations on revenue and adjusted earnings in Q3 2025.
Key Takeaways
Victoria’s Secret delivered better-than-expected sales in Q3 2025, driven by strength across its Victoria's Secret, PINK, and Beauty brands. Despite a net loss, the company raised full-year guidance, reflecting operational momentum and disciplined execution.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Victoria’s Secret raised its full-year outlook, expecting stronger performance in Q4 2025 on the back of solid Q3 execution and sales momentum.
Positive Outlook
- Raised full-year revenue guidance to $6.45B–$6.48B
- Adjusted EPS for full year guided to $2.40–$2.65
- Adjusted operating income for full year guided to $350M–$375M
- Q4 sales expected between $2.17B–$2.2B
- Momentum across all brands and channels supports outlook
Challenges Ahead
- Continued GAAP net losses despite sales gains
- Q3 reported operating income remained negative
- Impact of tariffs remains high ($90M expected for FY25)
- Recent store closures may reflect ongoing cost challenges
- Adore Me acquisition-related costs continued to weigh on results
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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