NEW YORK — Victoria's Secret reported first-quarter 2026 earnings of $0.60 per share on June 2, 2026, nearly double Wall Street expectations, and raised its full-year sales and profit guidance. The company announced net sales of $1.56 billion for the quarter, a 15% increase from $1.35 billion in the same period in 2025. It also delivered its fourth consecutive quarter of positive comparable sales as of Q1 2026.

The retailer raised its full-year net sales guidance by $120 million, now forecasting up to $7.13 billion, and increased its adjusted operating income projection by more than $100 million to a range of $550 million to $580 million. CFO Scott Sekella said the company’s strong results stemmed from "higher regular-price selling, reduced promotions, and leveraging buying and occupancy expenses, all despite tariff headwinds." Victoria's Secret faces a $90 million net tariff impact but benefited from lower rates following court rulings against former President Trump’s duties.

CEO Hillary Super attributed the performance to a strategic shift away from heavy discounting. "We are reducing promotions and markdowns and replacing promotional offers with compelling emotional messaging. The result is a healthier, more brand-led business," Super said. She also cited double-digit growth in new customer acquisition, including among Gen-Z shoppers. Super, the first female CEO of Victoria's Secret since its 2021 spin-off from L Brands, rejected past marketing approaches labeled as "woke-washing" and criticized endless sales cycles. "Once you hit that year, you start compounding your contributions. We are early innings. The turnaround still faces headwinds," she added.

On June 2, 2026, Victoria's Secret stock reached an all-time high of $80 per share, having risen approximately 160% over the prior year. The company repurchased 2.2 million shares for $100 million in the first quarter at an average price of $45.27. Despite the rally, 19% of its tradeable shares remained shorted as of June 2026, according to S3 Partners data.

Goldman Sachs analyst Brooke Roach called the results "a very strong result" and said the bank was "encouraged by the solid top-line performance with strength across all channels including North America stores, Direct, and International."