Victoria's Secret & Co. Earnings Call Transcripts
Fiscal Year 2027
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Q1 2026 delivered 15% sales growth and over 500% EPS growth, with all segments achieving double-digit gains and strong customer acquisition. FY2026 guidance was raised across sales, operating income, and EPS, reflecting continued momentum and margin expansion despite tariff headwinds.
Fiscal Year 2025
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Q3 sales rose 7% year-over-year, with strong growth across all brands and channels, especially internationally. Beauty and digital excelled, while guidance for Q4 and the full year was raised. Gross margin faces pressure from higher transport costs and incentive compensation.
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Q2 results exceeded expectations with operating income growth for the first time since 2021. Sales trends improved sequentially, driven by new product launches and strong international and Adore Me performance. FY2024 guidance was raised, but the environment remains competitive and transportation costs are a headwind.