Victoria’s Secret raises outlook after double-digit sales growth in Q2

By Kaycee Enerva September 4, 2026

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Victoria’s Secret is raising its full-year outlook after stronger customer demand helped drive a 10 per cent increase in second-quarter sales.

Net sales reached $1.611 billion for the quarter ended August 1, compared with $1.459 billion a year earlier and near the top of its previous guidance range.

Operating income surged to $257 million from $41 million a year earlier, while net income climbed to $183 million from $16 million.

The results also included more than $140 million in tariff refunds paid under the US International Emergency Economic Powers Act (IEEPA).

“We delivered another strong quarter with broad-based growth across the business,” said Hillary Super, CEO of Victoria’s Secret & Co.

“Our brands are stronger and more relevant, our customer file is growing, and we are gaining market share as product, brand identity, storytelling, and execution are all working together.”

The company said it benefited from stronger regular-price sales and continued cost discipline during the quarter, while managing ongoing uncertainty around tariffs.

CFO Scott Sekella said the results showed the “continued strength and improving quality of the business.”

“Given our strong first-half performance and continued momentum entering the back half, we are raising our full-year net sales and adjusted operating income outlook,” he added.

Victoria’s Secret now expects this year’s fiscal net sales of between $7.10 billion and $7.18 billion, up from its previous forecast of $7.03 billion to $7.13 billion. It expects adjusted operating income of $560 million to $590 million, compared with its previous range of $550 million to $580 million.

For the third quarter, the company expects sales of $1.57 billion to $1.60 billion, compared with $1.472 billion a year earlier. Operating income is expected to be between $10 million and $20 million.

“We see significant opportunity ahead and are doubling down on what is working,” Super added.

“We are increasing our strategic marketing investment to expand our reach, deepen customer connection, and build on the brand heat we are creating.”

Planned initiatives include product launches, partnerships, and campaigns, including the “Angels Among Us” docuseries, a larger Victoria’s Secret Fashion Show, and holiday activations.

Sekella said the company would continue investing in product, customer experience, and marketing while focusing on profitable growth and long-term value.