Victoria’s Secret (NYSE:VSCO) reported fourth-quarter and full-year 2025 results on March 5, 2026, that surpassed both internal guidance and Wall Street estimates.
The performance marks a pivotal moment in the retailer's "Path to Potential" strategy, which emphasizes higher-margin products and a faster, more agile operating model.
For the fiscal fourth quarter ended January 31, 2026, the Reynoldsburg, Ohio-based company posted net sales of $2.27 billion, ahead of the $2.22 billion analyst consensus.
Comparable sales rose 8% for the quarter, reflecting strong customer engagement across the Victoria’s Secret, PINK, and Beauty brands.
Adjusted earnings per diluted share (EPS) hit $2.77, a 22% increase over the previous year (excluding one-time gift card accounting adjustments) and well above the $2.48 forecasted by analysts.
Under CEO Hillary Super, the company has successfully reduced its reliance on heavy promotions.
Management noted that higher average unit retails (AURs) and improved gross margins—up 170 basis points—were primary drivers of the quarterly beat.
This was achieved despite approximately $85 million in headwind pressure from international tariffs throughout the year.