Victoria’s Secret store in New York.
Scott Mullin | CNBC
victoria’s secret The company is expected to report better-than-expected sales growth on Thursday, beating expectations for the holiday quarter, as CEO Hilary Super’s turnaround plan continues to resonate with shoppers.
The traditional bra and underwear company beat Wall Street expectations on both sales and bottom line and announced guidance that beat Wall Street expectations.
Victoria’s Secret expects sales of $1.49 billion to $1.53 billion for the quarter, beating expectations of $1.42 billion. The company expects this momentum to continue for the full year, with sales expected to be between $6.85 billion and $6.95 billion, exceeding expectations of $6.8 billion.
“Our customers responded enthusiastically to our products and marketing during the quarter, as evidenced by increased new customer acquisitions and (average to retail store) increases,” Super said in a statement. “Our 2025 results reflect our progress on our Path to Possibility strategy as we build on our brand aspirations and strong connections with customers around the world.”
Here’s how the retailer’s fiscal fourth-quarter results compare to Wall Street expectations, based on a survey of analysts by LSEG.
Earnings per share: $2.77 adjusted vs. $2.52 expected Revenue: $2.27 billion vs. $2.23 billion expected
Despite strong results and guidance, Victoria’s Secret stock fell more than 10% in midday trading Thursday.
The company’s net income for the three months ended Jan. 31 was $183.63 million, or $2.14 per share, compared with $193.4 million, or $2.33 per share, in the year-ago period. Excluding impairment charges, restructuring charges and other one-time charges related to the Adore Me assets, Victoria’s Secret’s adjusted net income was $238 million, or $2.77 per share.
Sales were $2.27 billion, an increase of approximately 8% from $2.11 billion in the same period last year.
Pink designer clothing on sale at the Victoria’s Secret store on Fifth Avenue in New York, USA, on Thursday, September 4, 2025.
Gabby Jones Bloomberg | Getty Images
Since taking over as CEO of Victoria’s Secret about a year and a half ago, the supermarket has sought to reignite sales growth and profitability by changing the way it markets to shoppers, doubling its $1 billion beauty business, recommitting to its 2000s Pink line and reaffirming its leadership in the bra category. One year later, the strategy continues to show signs of progress.
Like-for-like sales have now increased for three consecutive quarters, including the most recent quarter when comps surged 8%, beating analysts’ expectations for a 5.6% increase, according to Street Accounts. This is the longest period of comparable sales growth in at least four years, according to FactSet metrics.
Since spinning off from former parent company L Brands in 2021, Victoria’s Secret has until recently been unsuccessful in its attempts to regain relevance with consumers. The emphasis on ultra-sexy styles over comfortable, practical underwear, combined with out-of-touch marketing, drove shoppers to upstart disruptors and other traditional competitors, leading to a decline in market share.
The company acquired digital startup Adore Me in 2022, allowing the brand to cater to a wider range of shoppers and body types through inclusive sizing and a focus on lingerie styles that range from sexy to comfortable. However, this acquisition was not enough to return Victoria’s Secret to sustainable growth.
During the quarter, the company recorded a $119.6 million impairment charge related to Adore Me and also said it was beginning a “strategic review” of DailyLook, the brand it acquired through the Adore Me deal. A strategic review often involves finding a buyer willing to acquire the brand.
