NYSE$VSCO
Victoria's Secret & Co. · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
Victoria’s Secret reported a net loss but exceeded expectations on revenue and adjusted earnings in Q3 2025.
Victoria’s Secret delivered better-than-expected sales in Q3 2025, driven by strength across its Victoria's Secret, PINK, and Beauty brands. Despite a net loss, the company raised full-year guidance, reflecting operational momentum and disciplined execution.
Headline financials
Revenue & EPS history
Victoria's Secret · Revenue · Quarterly
$1.47B
Revenue by segment
Victoria's Secret · $1.35B total across 3 segments · Q1 2025
- Stores – North America$721M—53.3%
- Direct$433M—32.0%
- International$199M—14.7%
Forward guidance
Victoria’s Secret raised its full-year outlook, expecting stronger performance in Q4 2025 on the back of solid Q3 execution and sales momentum.
Tailwinds
- Raised full-year revenue guidance to $6.45B–$6.48B
- Adjusted EPS for full year guided to $2.40–$2.65
- Adjusted operating income for full year guided to $350M–$375M
- Q4 sales expected between $2.17B–$2.2B
- Momentum across all brands and channels supports outlook
Headwinds
- Continued GAAP net losses despite sales gains
- Q3 reported operating income remained negative
- Impact of tariffs remains high ($90M expected for FY25)
- Recent store closures may reflect ongoing cost challenges
- Adore Me acquisition-related costs continued to weigh on results
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2025
-1.0%
Avg return
Earnings day
-4.8%
Avg return
5 days after
-9.7%
Avg return
30 days after
36%
8 / 22 earnings
Positive
+20.7%
Q3 2023
Best reaction
-32.4%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| 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 | — | — | — |
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