Victoria’s Secret has raised its full-year outlook after reporting stronger-than-expected first-quarter results, with CEO Hillary Super pointing to growth across brands and categories.

The lingerie retailer reported net sales of $1.56 billion for the quarter ending May 2, up 15 per cent from $1.35 billion a year earlier and above its previously forecast range. 

At the same time, its operating income rose to $76 million from $20 million a year earlier, while net income improved to $48 million.

“We delivered a very strong start to 2026, exceeding top- and bottom-line guidance and continuing the momentum we built in the back half of last year,” said Super.

“We drove double-digit sales growth across Victoria’s Secret, Pink, and Beauty, as well as our fourth consecutive quarter of positive comps.”

The company said growth was driven by strong customer demand for new products, higher levels of regular-price selling, and gains in customer acquisition.

CFO Scott Sekella added that profitability improved despite tariff-related pressures.

“Our first quarter results reflect disciplined execution across the business, including broad-based gross margin improvement, driven by higher regular-price selling, reduced promotions, and leveraging our buying and occupancy expenses, all despite tariff headwinds,” he said.

“We also delivered SG&A leverage versus last year’s first quarter and EPS growth that outpaced operating income growth.”

Looking ahead, Victoria’s Secret raised its fiscal sales guidance for this year.

The company now expects annual net sales of between $7.03 billion and $7.13 billion, up from its previous forecast of $6.85 billion to $6.95 billion.

For the second quarter, the retailer expects net sales of between $1.59 billion and $1.62 billion, compared with $1.46 billion in the same period last year.

Super said the results reflect progress in the company’s ongoing turnaround efforts.

“We are confident in the trajectory of the business,” she concluded.