Victoria’s Secret Reports Strong First-Quarter Results, Raises Full-Year Outlook

Victoria’s Secret reported first-quarter earnings of $0.60 per share, nearly double Wall Street expectations, and raised its full-year sales outlook by $120 million. Net sales rose 15 percent to $1.56 billion, exceeding company guidance. The company also increased its full-year adjusted operating income projection to between $550 million and $580 million.

Shares nearly doubled in price and reached an all-time high of $80 following the earnings release. The company changed its ticker symbol from VSCO to VSXY.

The chief executive said the company is reducing promotions and replacing them with emotional messaging aimed at full-price sales. Comparable sales posted their fourth consecutive quarter of growth, with double-digit increases in new customer acquisition. Executives attributed the results to higher regular-price selling and lower occupancy costs despite tariff pressures.

The company sources and manufactures across multiple countries, including Vietnam and Sri Lanka, and faces an estimated $90 million net tariff impact. An activist investor had questioned the chief executive’s ability to run a public company before the earnings release.

" — Chief executive, earnings call The company said its executive team has now worked together for roughly one year and described the turnaround as still in early stages.