Victoria's Secret & Co. reported net sales of $1.472 billion for the third quarter of 2025, a 9% increase over the previous year, surpassing expectations.
Operating results and earnings exceeded expectations, with a robust adjusted gross margin expansion of 170 basis points.
The company raised its full-year outlook for net sales, operating income, and earnings for fiscal year 2025.
Net Sales Increase
Net sales grew by 9% in the third quarter of 2025, driven by strength across various product categories and channels.
Earnings Exceed Guidance
Adjusted operating income for the third quarter of 2025 was breakeven at $0 million, surpassing the previously communicated range of adjusted operating loss.
Guidance Raise
The company raised its full-year outlook, with an increase in forecasted net sales, operating income, and earnings for fiscal year 2025.
- Victoria's Secret & Co. showcased a standout third quarter performance, reflecting disciplined execution of their Path to Potential strategy.
- The company's focus on managing costs and investing in innovation and customer experience has enabled effective scaling and support for future growth.
With strong third quarter results and an optimistic outlook for the full year, Victoria's Secret & Co. is well-positioned for a successful holiday season and long-term growth.