TLDR
- Victoria’s Secret stock surged roughly 40% after posting adjusted EPS of $0.60, double Wall Street’s estimate of $0.30.
- Revenue came in at $1.56 billion, up 15% year-over-year, beating the $1.52 billion consensus.
- The company raised full-year sales guidance to $7.03–$7.13 billion, up from a prior range of $6.85–$6.95 billion.
- Full-year adjusted operating income guidance was raised by more than $100 million, now expected at $550–$580 million.
- CEO Hillary Super credited consistent growth across all brands, channels, and income groups, with fewer promotions than a year ago.
Victoria’s Secret stock opened around $77 on Tuesday, up roughly 40–48% in early trading, after the lingerie retailer blew past first-quarter earnings expectations and raised its full-year outlook.
The company reported adjusted earnings per share of $0.60, double the Wall Street consensus of $0.30. Revenue rose 15% year-over-year to $1.56 billion, beating estimates of $1.52 billion. Net income for the quarter came in at $47.7 million, compared to a loss of $1.66 million a year earlier.
VICTORIA’S SECRET $VSCO EARNINGS ARE OUT!
🟢 EPS: $0.60 | Est. $0.32
🟢 REV: $1.56B | Est. $1.52B
IMPLIED MOVE TODAY: ±16.01%!! pic.twitter.com/V6V03ikOC9— Schaeffer's Investment Research (@schaeffers) June 2, 2026
Comparable sales grew 13% for the quarter, topping StreetAccount’s estimate of 11.4%. CEO Hillary Super said growth was spread across every brand, channel, and income group.
“Very consistent, double-digit increases across Victoria’s Secret, Pink, beauty channels, digital, stores and international,” Super told CNBC. The company also grew sales with fewer promotions and picked up market share, particularly among shoppers ages 18 to 24.
Guidance Raised Across the Board
Victoria’s Secret lifted its full-year sales forecast to $7.03–$7.13 billion, up from a previous range of $6.85–$6.95 billion and above analyst estimates of $6.99 billion. Full-year adjusted operating income guidance moved to $550–$580 million, up from $430–$460 million — an increase of more than $100 million at the midpoint.
For the current quarter, the company guided for sales between $1.59 billion and $1.62 billion, ahead of the $1.56 billion analyst estimate. CFO Scott Sekella said the improved outlook reflects strong first-quarter sales, better leverage on fixed costs, and lower tariff costs following court rulings against some of President Trump’s duties. The company does expect around $15 million in tariff impact in the current quarter.
The stock has nearly tripled over the past 12 months heading into this report. About 19% of the publicly available float is held short, according to Ortex data — a level that analysts say raises the risk of a short squeeze.
Turnaround Gains Momentum
Super, who joined in 2024, has been focused on reconnecting the brand with its core identity, cutting back on discounting, and rebuilding the bra category as an anchor for the business. She revived the annual runway show after a six-year absence, and in May the company changed its NYSE ticker from VSCO to VSXY — a nod to the brand repositioning.
The quarter marked the fourth consecutive quarter of revenue growth. Super noted that the executive team she assembled is now approaching its one-year mark, and the results are showing that. Growth came from all income brackets, with the strongest gains among shoppers earning under $50,000 and over $200,000 annually.
Sekella added that tax refund activity during the quarter was a “normal amount” and that trends have held steady into the current quarter, even as that stimulus has dried up.
Telsey Advisory’s Dana Telsey said the results show the strategy is taking hold: “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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