Victoria’s Secret lifts FY26 outlook as Q1 beats expectations

VS&Co present expects nett income for the afloat twelvemonth 2026 to scope betwixt $7.03bn and $7.13bn, up from the anterior scope of $6.85bn to $6.95bn.

This projection is supra the $6.55bn recorded successful the erstwhile fiscal year.

Adjusted operating income for 2026 is present anticipated to beryllium successful the scope of $550m to $580m, higher than the erstwhile guidance of $430m to $460m, and an summation from $403m successful 2025.

VS&Co main enforcement serviceman Hillary Super said: “We delivered a precise beardown commencement to 2026, exceeding top- and bottom-line guidance and continuing the momentum we built successful the backmost fractional of past year. We drove double-digit income maturation crossed Victoria’s Secret, PINK, and Beauty, arsenic good arsenic our 4th consecutive 4th of affirmative comps."

The results travel a beardown extremity to FY25 for VS&Co, arsenic it exceeded some gross and nett forecasts crossed its assorted brands, income channels and planetary markets.

VS&Co’s Q1 Financial Highlights

For the 3 months ending 2 May 2026, VS&Co posted nett income of $1.56bn, marking a 15% emergence from $1.35bn reported successful the archetypal 4th of 2025, and surpassing the antecedently announced guidance scope of $1.49bn to $1.53bn.

Its comparable income grew by 13% year-on-year during the period.

Operating income for the archetypal 4th reached $76m, up from $20m a twelvemonth earlier and nett income for the play totalled $48m, oregon $0.56 per diluted share, reversing a nett nonaccomplishment of $2m, oregon $0.02 per diluted share, successful the aforesaid play past year.

The company’s adjusted nett income came to $51m, oregon $0.60 per diluted share, beating the antecedently forecasted scope of $0.20 to $0.30 per diluted stock and rising from past year’s adjusted nett income of $7m, oregon $0.09 per diluted share.

Super added: “Our lawsuit responded powerfully to our merchandise innovation, emotionally resonant storytelling, and chiseled marque projection, driving double-digit maturation successful caller lawsuit acquisition, accrued regular-price selling, and broad-based spot crossed categories, channels, and geographies.

"These results bespeak the advancement we are making against our Path to Potential strategy arsenic we proceed to fortify lawsuit connection, physique marque heat, and thrust sustainable semipermanent growth.”

Outlook for 2nd 4th FY26

For the 2nd 4th of 2026, VS&Co expects nett income to beryllium successful the scope of $1.59bn to $1.62bn, compared with $1.46bn a twelvemonth earlier.

Operating income is projected to surge to $90m–$100m, marking a important summation from Q2 2025's adjusted operating income of $55m.

"Victoria’s Secret lifts FY26 outlook arsenic Q1 beats expectations " was primitively created and published by Just Style, a GlobalData owned brand.