First Quarter Net Sales Increased 15% Year-Over-Year, Exceeding Expectations in Both Revenue and Profit, Company Raises Full-Year Guidance
ShanghaiJune 5, 2026 /PRNewswire/ — Victoria’s Secret & Co. (NYSE: VSXY) today announced its financial results for the first quarter of fiscal 2026, ended May 2, 2026.
The company reported that net sales for the first quarter of fiscal 2026 increased 15% to $1.560 billion, outperforming previous guidance. Operating income rose to $76 million, with adjusted operating income reaching $80 million, also exceeding prior guidance. The company raised its full-year fiscal 2026 guidance: full-year net sales guidance is adjusted to $7.030 billion to $7.130 billion, and adjusted operating income guidance is raised to $550 million to $580 million.
Victoria’s Secret CEO Hillary Super stated that the company started 2026 with strong momentum, with both revenue and profit surpassing prior guidance, continuing the growth trend seen since the second half of last year. Sales in the Victoria’s Secret, PINK, and Beauty business segments all achieved double-digit growth, marking four consecutive quarters of positive growth. This was driven by product innovation, emotionally resonant brand storytelling, and a distinct brand image that received enthusiastic consumer response. The number of new brand customers also grew by double digits, with an increasing share of full-price product sales, and comprehensive growth across all categories, channels, and global markets. As the ‘Path to Potential’ strategy is implemented, the company remains committed to deepening consumer connections and enhancing brand heat, ensuring long-term sustainable and steady growth. These results fully validate the current effectiveness of the strategy’s implementation.
Based on the strong first-quarter performance, CEO Hillary Super added: “We are increasingly confident in our business trajectory. Our team’s execution efficiency and flexibility continue to improve, the brand influence of our three business segments is steadily rising, and our customer base is expanding. Currently, the company has a robust pipeline of new product launches, brand collaborations, and marketing activities, which are poised for positive execution. We believe the company is well-positioned to sustain its growth momentum and continue creating shareholder value.”
Victoria’s Secret Chief Financial and Operating Officer Scott Sekella said: “In the first quarter, the company executed rigorous operations across all business segments with outstanding results. Despite pressures from tariffs, leveraging the increased share of full-price sales, narrowed promotional activities, and economies of scale from optimized procurement and store lease costs, we achieved comprehensive improvements in gross margin. Compared to the same period last year, the company achieved refined control over selling, general, and administrative expenses (SG&A), with earnings per share growth outpacing operating income growth. Based on the strong first-quarter performance and the continued positive business trend, the company has raised its full-year fiscal 2026 outlook and maintains strong confidence in driving sustained profit growth.”
About Victoria’s Secret:
Victoria’s Secret (NYSE: VSXY) is a specialty retailer offering modern, stylish products including iconic bras, panties, lingerie, casual sleepwear, loungewear, and swimwear, as well as award-winning prestige fragrances and body care collections. VS&Co includes Victoria’s Secret and Victoria’s Secret PINK, with a brand purpose to support and encourage consumers at every stage of their lives; and Adore Me, a technology-driven, digital-first innovative intimates brand offering products in various sizes and price points for women at different life stages. With approximately 1,420 retail stores in about 70 countries worldwide, Victoria’s Secret empowers over 30,000 employees globally to provide consumers with products and shopping experiences that make them feel good from the inside out, while creating a more positive impact through the power of its products, platforms, and advocacy.
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