For the third quarter (Q3) ending 1 November 2025, Victoria’s Secret’s net sales totalled $1.47bn, representing a 9% increase from $1.35bn in the same period last year.
The reported Q3 FY25 figure exceeded the company’s earlier guidance range of $1.39bn to $1.42bn.
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Victoria’s Secret CEO Hillary Super attributed this increase to a good performance across its Victoria’s Secret, PINK, and Beauty segments, along with continued momentum in its various sales channels and regions.
Super said: “These outstanding results reflect disciplined execution of our Path to Potential strategy. 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. 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.”
Victoria’s Secret Q3 FY25 key results
Victoria’s Secret saw its gross profit rose to $536.14m in Q3 FY25, up from $468.29m in the prior year quarter.
The company’s operating loss reduced to $19m in the reported quarter from $47m in the same period last year.
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By GlobalDataNet loss attributable to the company also contracted to $37.35m, which translates to loss per diluted share of $0.46, against $56.23m or loss of $0.71 per diluted share in Q3 FY24.
The lingerie retailer achieved an adjusted gross margin increase of 170 basis points, attributed to lesser promotional activities and a higher proportion of regular-priced sales, while using the strengths of its business model.
Victoria’s Secret full year and Q4 outlook
For the full year 2025, Victoria’s Secret now projects net sales between $6.45bn and $6.48bn, up from previous guidance of $6.33bn to $6.41bn.
At this sales level, adjusted operating income is expected to range from $350m to $375m, compared to prior guidance of $270m to $320m.
The outlook includes an estimated net tariff impact of about $90m for fiscal year 2025, down from earlier guidance of $100m.
In the fourth quarter of 2025, projected net sales are between $2.17bn and $2.20bn.
Adjusted operating income for the fourth quarter is expected between $265m and $290m.
Victoria’s Secret chief financial and operating officer Scott Sekella said: “We remain focused on managing costs while prioritising investments in product innovation, brand strength, and customer experience. These efforts, along with the solid operational foundation we have built enables us to scale effectively and support the company’s growth, giving us confidence in delivering a strong finish to the year and positioning VS&Co for long-term success.”
