Victoria's Secret & Co. (VS&Co) has reported its financial results for the fourth quarter and fiscal year ended January 31, 2026. The company delivered impressive performance, surpassing both top* and bottom-line guidance.
In the fourth quarter of 2025, the company reported net sales of $2.270 billion, marking an 8% increase compared to the same period in 2024. Comparable sales also surged by 8% in the fourth quarter. Adjusted operating income for the quarter was $316 million, exceeding the previously communicated guidance range and representing a 16% increase compared to the previous year. Adjusted net income per diluted share for the fourth quarter of 2025 was $2.77, demonstrating an 18% increase from the previous year.
For the full fiscal year 2025, VS&Co reported net sales of $6.553 billion, a 5% increase from fiscal year 2024. Comparable sales for the full year were 5%. Adjusted operating income for fiscal year 2025 was $403 million, exceeding the previously communicated guidance range and representing a 16% increase compared to the previous year. Adjusted net income per diluted share for fiscal year 2025 was $3.00, showing a 22% increase from the previous year.
Looking ahead, the company has initiated first quarter and fiscal 2026 guidance. For the first quarter of 2026, net sales are forecasted to be in the range of $1.490 billion to $1.525 billion, compared to $1.353 billion for the first quarter of 2025. The company is also forecasting fiscal year 2026 net sales to be in the range of $6.850 billion to $6.950 billion, compared to $6.553 billion in fiscal year 2025. Operating income for fiscal year 2026 is expected to be in the range of $430 million to $460 million, compared to adjusted operating income of $403 million in fiscal year 2025.
Additionally, the company has initiated a strategic review of Dailylook, a non-core asset within VS&Co. Acquired through the Adore Me transaction in December 2022, Dailylook is being evaluated for long-term success as part of VS&Co's continued focus on its core business.
Victoria's Secret & Co. is committed to its path to potential strategy, aiming to accelerate growth and create long-term shareholder value. The company's strong financial performance and strategic initiatives position it for continued success in the future. As a result of these announcements, the company's shares have moved -1.22% on the market, and are now trading at a price of $59.86. For the full picture, make sure to review Victoria's Secret &'s 8-K report.
