Victoria's Secret surpasses revenue and profit expectations; provides Q4 guidance and increases FY25 forecast
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 05 2025
0mins
Should l Buy VSCO?
Source: SeekingAlpha
Q3 Financial Performance: Victoria's Secret reported a Q3 Non-GAAP EPS of -$0.27, beating expectations by $0.32, with revenue of $1.47 billion, a 9.2% year-over-year increase, surpassing estimates by $60 million.
Full Year and Q4 Outlook: The company raised its full year net sales forecast to between $6.450 billion and $6.480 billion, with adjusted operating income expected to be between $350 million and $375 million, and adjusted net income per diluted share estimated at $2.40 to $2.65.
Fourth Quarter Projections: For Q4, Victoria's Secret anticipates net sales between $2.170 billion and $2.200 billion, with adjusted operating income projected at $265 million to $290 million and adjusted net income per diluted share estimated at $2.20 to $2.45.
Impact of Tariffs: The outlook includes an estimated net tariff impact of approximately $90 million for fiscal year 2025, slightly lower than the previous guidance of $100 million.
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Analyst Views on VSCO
Wall Street analysts forecast VSCO stock price to fall
11 Analyst Rating
4 Buy
7 Hold
0 Sell
Moderate Buy
Current: 56.940
Low
29.00
Averages
53.40
High
73.00
Current: 56.940
Low
29.00
Averages
53.40
High
73.00
About VSCO
Victoria's Secret & Co. is a specialty retailer of women's intimate and other apparel and beauty products marketed under the Victoria's Secret, PINK, and Adore Me brand names. The Company offers a range of products including bras, panties, lingerie, casual sleepwear, apparel, sport and swim, as well as prestige fragrances and body care. Victoria’s Secret brand offers bras, panties, lingerie, casual sleepwear, swim, lounge and sport, as well as fragrances and body care. PINK is a lifestyle brand for young women providing variety of collections and heritage pieces, including apparel, loungewear, activewear, bras, panties, accessories, beauty, and others. Adore Me is a direct-to-consumer lingerie and apparel brand that is focused on serving women of all sizes and budgets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Victoria's Secret Q4 2025 Earnings Call Scheduled
- Earnings Release Schedule: Victoria's Secret will hold its Q4 2025 earnings call on March 5, 2026, at 8:30 a.m. ET, with financial results expected to be released one hour prior, ensuring timely access to performance data for investors.
- Participation Details: Investors can listen to the call via the official website, dialing in at 800.619.9066 (Passcode 5358727) for domestic calls or 212.519.0836 (Passcode 5358727) for international calls, promoting broad investor engagement and transparency.
- Financial Information Access: The earnings report and related financial information will be available one hour before the call, enhancing accessibility and timeliness of information, which aids investors in making informed decisions.
- Company Background Overview: Victoria's Secret is a specialty retailer with over 30,000 associates and more than 1,400 retail stores, committed to empowering women and catering to diverse needs at various life stages, showcasing its significant global market presence.
See More
Victoria's Secret Owner Linked to Sex Trafficking Investigation
- Investigation Revelations: Longtime Victoria's Secret owner Les Wexner has been identified as a 'co-conspirator' in a sex trafficking investigation according to internal FBI and DOJ records from 2019, although the documents indicate limited evidence of his involvement, suggesting he was not treated as a formal target.
- Historical Acquisition: Wexner acquired Victoria's Secret in 1982 for approximately $1 million when it had only five stores, and under his leadership, the brand rapidly evolved into a dominant player in the U.S. intimate apparel market, capturing about one-third of the market share.
- Market Influence: Under Wexner's direction, Victoria's Secret redesigned its stores and launched glamorous advertising campaigns that successfully attracted young female consumers, ultimately expanding to around 1,000 stores and becoming a pop culture icon.
- Reputational Crisis: Wexner's association with Jeffrey Epstein has led to significant reputational damage for the brand, particularly as Epstein exploited his connections to Victoria's Secret models, culminating in Wexner's resignation as CEO of L Brands in 2020.
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- Return to Brick-and-Mortar: Young consumers are rediscovering the appeal of in-store shopping after years dominated by e-commerce, reflecting a longing for the carefree and familiar comfort of 2016, which could stimulate a retail resurgence.
- Brand Opportunities Arise: Brands like Abercrombie & Fitch and Levi Strauss, which held significant cultural relevance in 2016, may leverage this nostalgia wave to regain market traction, especially as consumers show renewed interest in classic styles.
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See More
Victoria's Secret Q4 2025 Earnings Call Scheduled
- Earnings Release Schedule: Victoria's Secret will hold its Q4 2025 earnings call on March 5, 2026, at 8:30 a.m. ET, with financial results expected to be released one hour prior, ensuring timely access to performance data for investors.
- Participation Details: Investors can listen to the call via the official website, dialing in at 800.619.9066 (Passcode 5358727) for domestic calls or 212.519.0836 (Passcode 5358727) for international calls, promoting broad investor engagement and transparency.
- Financial Information Access: The earnings report and related financial information will be available one hour before the call, enhancing accessibility and timeliness of information, which aids investors in making informed decisions.
- Company Background Overview: Victoria's Secret is a specialty retailer with over 30,000 associates and more than 1,400 retail stores, committed to empowering women and catering to diverse needs at various life stages, showcasing its significant global market presence.
See More
Victoria's Secret Owner Linked to Sex Trafficking Investigation
- Investigation Revelations: Longtime Victoria's Secret owner Les Wexner has been identified as a 'co-conspirator' in a sex trafficking investigation according to internal FBI and DOJ records from 2019, although the documents indicate limited evidence of his involvement, suggesting he was not treated as a formal target.
- Historical Acquisition: Wexner acquired Victoria's Secret in 1982 for approximately $1 million when it had only five stores, and under his leadership, the brand rapidly evolved into a dominant player in the U.S. intimate apparel market, capturing about one-third of the market share.
- Market Influence: Under Wexner's direction, Victoria's Secret redesigned its stores and launched glamorous advertising campaigns that successfully attracted young female consumers, ultimately expanding to around 1,000 stores and becoming a pop culture icon.
- Reputational Crisis: Wexner's association with Jeffrey Epstein has led to significant reputational damage for the brand, particularly as Epstein exploited his connections to Victoria's Secret models, culminating in Wexner's resignation as CEO of L Brands in 2020.
See More
Seattle Seahawks Win Super Bowl, Dow Surpasses 50,000
- Market Surge: The Dow Jones Industrial Average surged over 1,200 points on Friday, surpassing the 50,000 mark for the first time, closing the week up 2.5%, indicating a strong recovery in market sentiment despite earlier tech stock sell-offs.
- Bitcoin Rebound: Bitcoin rebounded above $70,000 on Friday, recovering from a sharp drop that nearly brought it below $60,000, reflecting a renewed confidence in the cryptocurrency market, although it remains over 50% off its all-time high.
- Super Bowl Advertising Boom: During the Super Bowl, NBC's average price for a 30-second ad reached $8 million, with some slots exceeding $10 million, highlighting strong demand in the advertising market, particularly from AI companies.
- Legal Battle Between Hims and Novo: Novo Nordisk is suing Hims & Hers over alleged copycat versions of its Wegovy obesity drug, leading Hims to announce the withdrawal of its product, which caused its shares to drop over 20% before the market opened.
See More
Seattle Seahawks Win Super Bowl with 29-13 Victory
- Market Surge: The Dow Jones Industrial Average soared over 1,200 points on Friday, surpassing the 50,000 mark for the first time, closing the week up 2.5%, indicating strong investor confidence despite a slight dip in futures trading this morning.
- Super Bowl Advertising Boom: NBC's 30-second ad spots averaged $8 million, with some exceeding $10 million, showcasing fierce competition in the advertising market as AI companies heavily invested in the event, highlighting the importance of brand visibility.
- Legal Action Intensifies: Novo Nordisk is suing Hims & Hers over its copycat weight-loss pills, leading Hims to announce the withdrawal of its product, resulting in a pre-market stock drop of over 20%, reflecting market sensitivity to legal risks.
- Meta Faces Major Trials: Meta is set to face two significant lawsuits in New Mexico and Los Angeles regarding the protection of child users and the mental health impacts on young users, which could have profound implications for its business and the social media industry.
See More
2016 Nostalgia Sparks Retail Revival Potential
- Social Media Surge: Since January 1, user-generated '2016' playlists on Spotify have surged by 790%, indicating a strong nostalgic sentiment among young consumers that could drive sales for brands associated with that era.
- Return to Brick-and-Mortar: Young consumers are rediscovering the joy of in-store shopping, reflecting a longing for the carefree atmosphere of 2016, which may lead to improved performance for retailers.
- Brand Opportunities: Brands like Abercrombie & Fitch could leverage this nostalgia wave to reshape their image, particularly if they successfully distance themselves from past controversies, potentially attracting more young consumers.
- Market Outlook: Retail trends typically last about 18 months, and this nostalgia cycle is expected to persist through the midterm elections this year, possibly extending into next year, providing long-term market opportunities for related brands.
See More
Gen Z's Nostalgia for 2016 and Its Impact on Retail
- Nostalgia Trend Emergence: Gen Z's nostalgia for 2016 has rapidly spread across social media, with Spotify user-generated '2016' playlists soaring by 790% since January 1, indicating a strong yearning for the cultural elements of that time, potentially driving a revival for related brands.
- Return to Brick-and-Mortar: Young consumers are rediscovering the appeal of in-store shopping after years dominated by e-commerce, reflecting a longing for the carefree and familiar comfort of 2016, which could stimulate a retail resurgence.
- Brand Opportunities Arise: Brands like Abercrombie & Fitch and Levi Strauss, which held significant cultural relevance in 2016, may leverage this nostalgia wave to regain market traction, especially as consumers show renewed interest in classic styles.
- Market Strategy Adjustments: As nostalgia rises, brands must adjust their market strategies to align with Gen Z's desire for authenticity and less intentionality, with successful brands likely to harness this emotional connection to reshape their cultural relevance.
See More
