NYSE$VSCO
Victoria's Secret & Co. · Q1 2026 earnings
Q1 2026 earnings · · Before market open · Investor relations
Briefing
Victoria's Secret & Co. reported first quarter 2026 results that exceeded guidance with double-digit sales growth and improved profitability.
Net sales rose 15% to $1.560 billion, driven by strength across Victoria's Secret, PINK, and Beauty. Operating income reached $76 million with adjusted operating income of $80 million, and the company raised its full-year 2026 outlook. Comparable sales increased 13% and EPS grew to $0.56.
- Net sales of $1.560 billion exceeded the guidance range of $1.490-$1.525 billion.
- Adjusted operating income of $80 million significantly beat the $32-$42 million guidance range.
- Full-year 2026 net sales guidance raised to $7.030-$7.130 billion and adjusted operating income to $550-$580 million.
- Repurchased 2.2 million shares for $100 million during the quarter.
Headline financials
Revenue & EPS history
Victoria's Secret · Revenue · Quarterly
$1.56B
Revenue by segment
Victoria's Secret · $1.56B total across 3 segments · Q1 2026
- Stores - North America$803M+11.3%51.5%
- Direct$469M+8.4%30.1%
- International$287M+44.4%18.4%
Forward guidance
Company raised full-year 2026 guidance following strong Q1 results.
Tailwinds
- Net sales guidance increased to $7.030-$7.130 billion
- Adjusted operating income guidance raised to $550-$580 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
+1.1%
Avg return
Earnings day
-3.0%
Avg return
5 days after
-9.7%
Avg return
30 days after
39%
9 / 23 earnings
Positive
+46.8%
Q1 2026
Best reaction
-32.4%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +46.8% | +36.9% | — | |
| Q4 2025 | -12.8% | -20.5% | -23.3% | |
| Q3 2025 | +17.0% | +25.1% | +28.4% | |
| Q2 2025 | -0.5% | -1.7% | +15.2% | |
| Q1 2025 | +4.4% | +4.7% | -4.2% | |
| Q1 2027 | -5.5% | -16.1% | -13.8% | |
| Q4 2024 | -8.2% | -26.8% | -23.7% | |
| Q3 2024 | +9.4% | +6.2% | -4.6% | |
| Q2 2024 | -3.1% | -5.1% | +5.3% | |
| Q1 2024 | -5.4% | -18.0% | -22.6% | |
| Q4 2023 | -32.4% | -28.6% | -30.7% | |
| Q3 2023 | +20.7% | +21.7% | +18.9% | |
| Q2 2023 | +7.3% | +10.8% | -6.7% | |
| Q1 2023 | -12.8% | -13.3% | -18.5% | |
| Q4 2022 | -7.2% | -10.0% | -11.4% | |
| Q3 2022 | -5.2% | -4.6% | -21.3% | |
| Q2 2022 | -1.9% | -7.4% | -21.7% | |
| Q1 2022 | +5.2% | -2.7% | -34.5% | |
| Q1 2021 | -2.1% | -4.2% | -5.5% | |
| Q4 2021 | +8.6% | -16.9% | -1.5% | |
| Q3 2021 | +12.2% | +14.1% | -4.1% | |
| Q4 2020 | -5.0% | -4.2% | -18.2% | |
| Q2 2021 | -3.7% | -8.0% | -13.9% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
Discussion
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