Victoria’s Secret raises full-year outlook after 'standout' third quarter
Victoria’s Secret & Co. has reported a 9% increase in net sales for the third quarter ended 1 November 2025, prompting the business to raise its full-year outlook.
The company posted net sales of $1.472 billion (£1.1 billion), up from $1.347 billion (£1 billion) and above its previous guidance of $1.390-1.420 billion (£1.04-1.06 billion).
Sales growth was driven by sustained strength in the Victoria’s Secret, PINK, and beauty segments, reinforced by solid momentum across all channels and geographies.
Operating performance also improved, with an operating loss of $19 million (£14 million), an improvement from the $47 million (£35 million) loss reported in the prior year’s third quarter. Net loss narrowed to $37 million (£27 million).
On the heels of its third-quarter performance, Victoria’s Secret raised its FY25 outlook. It now expects full-year sales between $6.450-6.480 billion (£4.84-4.86 billion) up from its prior outlook of $6.330-6.410 billion (£4.75-4.81 billion).
At this revised level of sales, adjusted operating income is expected to reach $350-375 million (£262-281 million), compared to $270-320 million (£202-240 million previously.
CEO Hillary Super highlighted Victoria’s Secret's ongoing transformation: "We delivered a standout third quarter, with outperformance on sales and earnings per share, exceeding the high-end of our guidance. These outstanding results reflect disciplined execution of our Path to Potential strategy."
Super added that the US-based company’s strong third-quarter results and a solid start to the holiday season position Victoria’s Secret & Co. for a successful close to FY25.
"With two iconic brands, Victoria’s Secret and PINK, a curated product assortment, high-emotion marketing and a relentless customer focus, we are reinforcing our leadership in global intimates and beauty," she added.
"As we continue to advance our Path to Potential strategy, we are accelerating global growth, elevating brand distinctiveness, and unlocking greater value across our ecosystem to drive long-term profitable growth."
