Victoria’s Secret & Co. (NYSE:VSCO) saw its shares jump 7.5% on Thursday after the lingerie and beauty retailer delivered second-quarter earnings that surpassed Wall Street expectations and raised its full-year guidance, underscoring progress in its turnaround strategy.
The company posted adjusted earnings per share of $0.33, well ahead of analyst projections of $0.13. Revenue reached $1.46 billion, topping the consensus forecast of $1.41 billion and marking a 3% year-over-year increase. Comparable sales advanced 4% for the period.
“I am excited to share that our momentum continued building in the second quarter, once again delivering results that beat our sales and operating income guidance,” said CEO Hillary Super. “We delivered comparable sales growth in both Victoria’s Secret and PINK, in North America and across the globe, and in our stores and online channels.”
The upbeat results prompted management to raise its full-year revenue forecast to between $6.33 billion and $6.41 billion, up from its earlier projection of $6.2 billion to $6.3 billion. For the third quarter, the retailer now expects sales between $1.39 billion and $1.42 billion, compared with analyst expectations of $1.36 billion.
While the company continues to face an estimated $100 million tariff headwind for fiscal 2025, Victoria’s Secret reaffirmed its adjusted operating income outlook of $270 million to $320 million.
Chief Financial and Operating Officer Scott Sekella highlighted the company’s disciplined approach, noting: “Importantly, despite tariff headwinds, we drove gross margin rate expansion in the quarter to go along with the sales growth, driven by disciplined inventory management and our evolving promotional approach in the business.”
International operations were a standout, with sales climbing 21.8% year-over-year to $227.8 million. North American store sales increased 3.1% to $824.8 million, while direct sales slipped 5.5% to $406.5 million.
As of August 2, 2025, Victoria’s Secret operated 1,376 locations worldwide, including 787 company-owned stores, 63 joint venture stores in China, 521 partner-operated shops, and 5 Adore Me outlets.
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