Victoria’s Secret sales surge 15% as turnaround gains momentum

Victoria’s Secret (NYSE:VSCO) reported a 15% increase in first-quarter net sales, fueled by a sharp recovery in consumer demand that prompted the apparel retailer to lift its financial projections for the full fiscal year.

The company posted net sales of $1.560 billion for the first quarter of 2026, up from the same period last year, while comparable sales advanced 13%.

The top-line acceleration expanded profitability, lifting operating income to $76 million and adjusted operating income to $80 million.

Adjusted diluted earnings per share reached $0.60 for the three-month period.

Backed by the strong start to the year, management increased its full-year 2026 outlook, signaling confidence in sustained brand relevance and promotional discipline.

Victoria's Secret now projects full-year net sales to reach between $7.030 billion and $7.130 billion.

Adjusted operating income for the full year is now expected to be in the range of $550 million to $580 million, reflecting improved product margins and healthier full-price selling trends across both its physical and digital storefronts.

The company also accelerated its capital return program during the quarter, utilizing its cash generation to optimize its capital structure.

Victoria's Secret deployed $100 million to repurchase approximately 2.2 million shares of its common stock during the first quarter, underscoring management's view of the company's valuation as it stabilizes its market position amid broader retail industry shifts.