Shares of Victoria’s Secret launched trading around $77 on Tuesday morning, climbing roughly 40–48% in early market action, following the intimate apparel company’s impressive first-quarter performance and enhanced full-year projections.
The retailer delivered adjusted earnings of $0.60 per share, exactly twice the Street’s consensus forecast of $0.30. Quarterly revenue climbed 15% from the year-ago period to reach $1.56 billion, surpassing analyst predictions of $1.52 billion. The company posted net income of $47.7 million for the period, a significant improvement from the $1.66 million loss recorded in the same quarter last year.
VICTORIA’S SECRET $VSCO EARNINGS ARE OUT!
EPS: $0.60 | Est. $0.32
IMPLIED MOVE TODAY: ±16.01%!! pic.twitter.com/V6V03ikOC9— Schaeffer's Investment Research (@schaeffers) June 2, 2026
Comparable store sales advanced 13% during the quarter, outperforming StreetAccount’s projection of 11.4%. Chief Executive Hillary Super emphasized that momentum was evident across all segments of the business.
“We’re seeing very consistent, double-digit growth across Victoria’s Secret, Pink, beauty channels, digital, stores and international,” Super explained in an interview with CNBC. The retailer also achieved sales growth while reducing promotional intensity and captured additional market share, especially among consumers aged 18 to 24.
Management increased its full-year revenue outlook to $7.03–$7.13 billion, above the prior guidance of $6.85–$6.95 billion and surpassing the analyst consensus of $6.99 billion. The company also raised its adjusted operating income forecast for the year to $550–$580 million, up from the earlier range of $430–$460 million — representing a midpoint increase exceeding $100 million.
For the second quarter, Victoria’s Secret projects revenue between $1.59 billion and $1.62 billion, above Wall Street’s expectation of $1.56 billion. Chief Financial Officer Scott Sekella attributed the enhanced outlook to robust first-quarter performance, improved fixed-cost leverage, and reduced tariff expenses resulting from court decisions overturning certain President Trump’s trade duties. Management anticipates approximately $15 million in tariff-related costs during the current quarter.
The stock has roughly tripled in value over the trailing twelve months prior to this earnings release. Approximately 19% of the available public float is sold short, according to Ortex analytics — a threshold that market observers suggest could trigger a short squeeze scenario.
Super, who assumed the CEO role in 2024, has concentrated efforts on realigning the brand with its fundamental identity, reducing discount dependency, and reestablishing the bra segment as the business’s cornerstone. She brought back the iconic annual fashion show following a six-year hiatus, and this past May, the company transitioned its NYSE ticker symbol from VSCO to VSXY — reflecting the brand’s repositioning efforts.
This quarter represented the fourth straight period of revenue expansion. Super observed that the executive leadership team she recruited is nearing its first anniversary, with results demonstrating the effectiveness of their strategy. Sales increases spanned all consumer income levels, with particularly strong performance among shoppers earning below $50,000 and above $200,000 per year.
Sekella noted that tax refund-related spending during the quarter registered at “normal levels” and that sales momentum has continued into the current quarter, despite the conclusion of that seasonal boost.
Dana Telsey of Telsey Advisory Group commented that the results validate the strategic direction: “The leadership team and strategies are beginning to bear fruit through an evolving assortment across brands, supported by improved messaging and brand storytelling.”
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