Victoria's Secret Q1 2025 – Net Sales Beat Guidance

By Philip Seaworth • Wednesday, June 11 10:16 • Permanent Link

Victoria’s Secret & Co. (NYSE: VSCO) has reported its financial results for the first quarter ended May 3, 2025. The company's net sales for the first quarter of 2025 stood at $1.353 billion, surpassing its previously communicated guidance range of $1.30 billion to $1.33 billion. This figure was flat compared to net sales of $1.359 billion for the first quarter of 2024. However, total comparable sales for the first quarter of 2025 decreased by 1%.

In terms of operating income, the company reported $20 million for the first quarter of 2025, a decrease from $26 million in the first quarter of 2024. The company also reported a net loss of $2 million, or $0.02 per diluted share, for the first quarter of 2025, compared to a net loss of $4 million, or $0.05 per diluted share, for the first quarter of 2024.

Excluding certain items, adjusted operating income for the first quarter of 2025 was $32 million, surpassing the previously communicated guidance range of $10 million to $30 million. Adjusted net income for the first quarter of 2025 was $7 million, or $0.09 per diluted share, which was near the high-end of the previously communicated guidance range.

Looking ahead, the company is forecasting net sales for the second quarter of 2025 to be in the range of $1.380 billion to $1.410 billion compared to last year’s second quarter net sales of $1.417 billion. The adjusted operating income for the second quarter of 2025 is expected to be in the range of $15 million to $35 million.

For the full year 2025, the company is maintaining its forecasted net sales range of $6.2 billion to $6.3 billion. However, the adjusted operating income for fiscal year 2025 is now expected to be in the range of $270 million to $320 million, compared to the previous guidance range of $300 million to $350 million. This revision reflects an updated estimated net tariff impact of approximately $50 million for fiscal year 2025.

Victoria’s Secret & Co. is a specialty retailer of modern, fashion-inspired collections, comprising market-leading brands, Victoria’s Secret and Pink, along with Adore Me, a technology-led, digital-first innovative intimates brand. The company has a global footprint of approximately 1,380 retail stores in nearly 70 countries. Today the company's shares have moved -2.29% to a price of $22.20. For more information, read the company's full 8-K submission here.

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