VS Q2 Sales Jump 10%

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Victoria’s Secret reported Q2 net income of $188.136 million on 10% higher sales of $1.610703 billion, compared to net income of $18.027 million on sales of $1.459137 billion in the same three months in 2025. The company noted that in the second quarter of 2026 it received “tariff refunds of over $140 million, representing over 95%” of the tariffs paid by the company.

CEO Hillary Super declared, “we delivered another strong quarter with broad-based growth across the business,” adding, “our brands are stronger and more relevant, our customer file is growing, and we are gaining market share as product, brand identity, storytelling and execution are all working together.” She promised “more product innovation, partnerships and emotionally connected campaigns ahead – including the Angels Among Us docuseries, an even bigger and better Victoria’s Secret Fashion Show and holiday activations” in the “back half of the year”

CFO Scott Sekella, explained that VS “continued to benefit from stronger regular-price selling and disciplined execution, while navigating ongoing tariff uncertainty. Given our strong first-half performance and continued momentum entering the back half, we are raising our full-year net sales and adjusted operating income outlook.”

For full fiscal year 2026 VS is expecting sales “to be in the range of $7.100 billion to $7.180 billion, an increase compared to the previously communicated guidance range of $7.030 billion to $7.130 billion, and compared to net sales of $6.553 billion in fiscal year 2025. At this forecasted level of net sales, the company is now forecasting adjusted operating income for fiscal year 2026 to be in the range of $560 million to $590 million, an increase compared to previously communicated guidance range of $550 million to $580 million, and compared to fiscal year 2025 adjusted operating income of $403 million.”

Comparable store sales in the second quarter rose 7%, while combined stores and direct sales were up 9%. These numbers include company-operated stores in the U.S. and Canada as well as consolidated joint venture stores in China. As of August 1 the company was operating 762 stores in the U.S. and 26 in Canada, as well as 61 joint venture stores in China.