Victoria’s Secret narrows loss, sales jump amid turnaround efforts
Victoria’s Secret & Co. reported better-than-expected third quarter results as its turnaround shows signs of progress.
On the earnings call, CEO Hillary Super, who took the reins as CEO in September 2024, called out the improvement in the company's Pink division.
"We are focused on returning Pink to its roots as a lifestyle brand designed for 18- to 24-year-olds, a segment we pioneered and once dominated,” she said. “That means reestablishing Pink’s identity as digitally first and socially driven, while staying true to its DNA — bold, playful and irreverent.
The lingerie giant narrowed its net loss to $37 million for the quarter ended Nov. 1, compared to a net loss of $56 million in the year-ago period. Adjusted loss per share was $0.27. Analysts had expected a loss of $0.59 per share.
Net sales rose 8% to $1.47 billion, fueled by growth across its brands with Pink a standout. Total comparable sales increased 8%.
“We delivered a standout third quarter, with outperformance on net sales and earnings per share, exceeding the high-end of our guidance,” said Hillary Super, who took the reins as CEO in September 2024. “These outstanding results reflect disciplined execution of our Path to Potential strategy. Building on the third quarter’s outperformance as well as the solid start to our fourth quarter, we are raising our full year outlook and are well positioned for a successful holiday season and finish to our fiscal 2025.”
The retailer now forecasts full-year net sales in the range of $6.450 billion to $6.480 billion, compared to prior guidance of $6.330 billion to $6.410 billion. Adjusted earnings per share is expected to range from $2.40 to $2.65, compared to prior guidance of $1.80 to $2.20.
Under Super’s watch, Victoria’s Secret has re-embraced its sexy brand image, but in way that allows women to feel empowered. In October, the brand held its signature runway show which, until 2024, had been on hiatus for several years in the wake of the MeToo movement. This year's event, which featured a bevy of top models wearing “angel” wings along with live performances by a diverse lineup of popular recording artists, was streamed live on Amazon Prime Video and other platforms.
“The focus with Victoria’s Secret is really sharpening what sexy is today for us and what that feels like and the fashion show’s really the beginning of that journey,” Super told WWD.
Victoria’s Secret has a global footprint of more than 1,400 retail stores in approximately 70 countries.
