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Jan 31
Victoria's Secret Q4 2025 Earnings Report
Victoria's Secret Q4 2025 Earnings Report
Key Takeaways
Victoria's Secret & Co. delivered an exceptional fourth quarter, exceeding top- and bottom-line guidance with net sales of $2.270 billion and comparable sales growth of 8%. Despite GAAP operating income being impacted by one-time charges including an Adore Me asset impairment, adjusted results showed significant growth, with adjusted EPS of $2.77 beating the high end of the company's guidance.
Net sales of $2.270 billion increased 8% year-over-year, exceeding the guidance range of $2.170 billion to $2.200 billion.
Total comparable sales increased 8% in the fourth quarter, driven by enthusiastic customer response to product and marketing.
Adjusted operating income reached $316 million, significantly outperforming the guidance range of $265 million to $290 million.
The company initiated a strategic review of DailyLook, a non-core asset, to focus on its core Victoria's Secret and PINK brands.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects continued growth in fiscal 2026, forecasting net sales between $6.850 billion and $6.950 billion.
Positive Outlook
- Q1 2026 net sales forecasted to grow to $1.490B - $1.525B.
- Full year 2026 operating income expected to increase to $430M - $460M.
- Clear brand vision and faster, more agile operating model.
- Strong pipeline of product and brand moments ahead.
- Position of strength entering the new fiscal year.
Challenges Ahead
- Ongoing uncertainty in the global trade environment.
- Potential for continued tariff pressures.
- Highly competitive nature of the retail industry.
- Risks related to global shipping and transportation disruptions.
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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