Victoria's Secret (VSCO) is trading down at $88.42 (-0.82%), as of the latest quote. It is a Russell 2000 constituent in the Consumer Discretionary sector.
Victoria's Secret revenue & net income history (FY2019–FY2025)
| FY2019Feb 2020 | FY2020Jan 2021 | FY2021Jan 2022 | FY2022Jan 2023 | FY2023Feb 2024 | FY2024Feb 2025 | FY2025Jan 2026 | |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $7.51B | $5.41B | $6.79B | $6.34B | $6.18B | $6.23B | $6.55B |
| Growth (year over year) | — | −27.9% | +25.3% | −6.5% | −2.6% | +0.8% | +5.2% |
| Gross profit | $2.06B | $1.57B | $2.76B | $2.26B | $2.24B | $2.28B | $2.38B |
| Gross margin | 27.5% | 29.0% | 40.7% | 35.6% | 36.3% | 36.7% | 36.4% |
| Operating income | −$892.0M | −$101.0M | $870.0M | $478.0M | $246.0M | $310.0M | $271.0M |
| Operating margin | −11.9% | −1.9% | 12.8% | 7.5% | 4.0% | 5.0% | 4.1% |
| Net income | −$897.0M | −$72.0M | $646.0M | $348.0M | $109.0M | $165.0M | $161.0M |
| Net margin | −11.9% | −1.3% | 9.5% | 5.5% | 1.8% | 2.6% | 2.5% |
| EPS (diluted) | −$10.16 | −$0.82 | $7.18 | $4.14 | $1.39 | $2.05 | $1.93 |
| Balance sheet | |||||||
| Cash and equivalents | $245.0M | $335.0M | $490.0M | $427.0M | $270.0M | $227.0M | $518.0M |
| Total assets | — | $4.23B | $4.34B | $4.71B | $4.60B | $4.53B | $5.01B |
| Total liabilities | — | $3.34B | $4.09B | $4.31B | $4.16B | $3.87B | $4.10B |
| Long-term debt | — | $97.0M | $978.0M | $1.27B | $1.12B | $973.0M | $971.0M |
| Shareholders' equity | $1.31B | $891.0M | $257.0M | $383.0M | $417.0M | $640.0M | $856.0M |
| Cash flow | |||||||
| Operating cash flow | $315.0M | $674.0M | $851.0M | $437.0M | $389.0M | $425.0M | $499.0M |
| Capital expenditure | $225.0M | $127.0M | $169.0M | $164.0M | $256.0M | $178.0M | $187.0M |
| Free cash flow | $90.0M | $547.0M | $682.0M | $273.0M | $133.0M | $247.0M | $312.0M |
| Share buybacks | $0 | $0 | $250.0M | $250.0M | $125.0M | $0 | $0 |
| Q3 FY24Nov 2024 | Q4 FY24†Feb 2025 | Q1 FY25May 2025 | Q2 FY25Aug 2025 | Q3 FY25Nov 2025 | Q4 FY25†Jan 2026 | Q1 FY26May 2026 | Q2 FY26Aug 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $1.35B | $2.11B | $1.35B | $1.46B | $1.47B | $2.27B | $1.56B | $1.61B |
| Growth (year over year) | +6.5% | +1.2% | −0.4% | +3.0% | +9.3% | +7.7% | +15.3% | +10.4% |
| Gross profit | $468.0M | $814.0M | $474.0M | $519.0M | $536.0M | $855.0M | $585.0M | $759.0M |
| Gross margin | 34.7% | 38.6% | 35.0% | 35.6% | 36.4% | 37.7% | 37.5% | 47.1% |
| Operating income | −$47.0M | $269.0M | $20.0M | $41.0M | −$19.0M | $229.0M | $76.0M | $257.0M |
| Operating margin | −3.5% | 12.8% | 1.5% | 2.8% | −1.3% | 10.1% | 4.9% | 16.0% |
| Net income | −$56.0M | $193.0M | −$2.00M | $16.0M | −$37.0M | $184.0M | $48.0M | $183.0M |
| Net margin | −4.2% | 9.2% | −0.1% | 1.1% | −2.5% | 8.1% | 3.1% | 11.4% |
| EPS (diluted) | −$0.71 | $2.41 | −$0.02 | $0.20 | −$0.46 | $2.21 | $0.56 | $2.18 |
| Balance sheet | ||||||||
| Cash and equivalents | $161.0M | $227.0M | $138.0M | $188.0M | $249.0M | $518.0M | $207.0M | $522.0M |
| Total assets | $4.92B | $4.53B | $4.58B | $4.75B | $5.13B | $5.01B | $4.77B | $5.16B |
| Total liabilities | $4.47B | $3.87B | $3.91B | $4.04B | $4.45B | $4.10B | $3.92B | $4.10B |
| Long-term debt | $1.41B | $973.0M | $1.08B | $1.05B | $1.35B | $971.0M | $986.0M | $971.0M |
| Shareholders' equity | $429.0M | $640.0M | $645.0M | $680.0M | $653.0M | $856.0M | $790.0M | $990.0M |
| Cash flow | ||||||||
| Operating cash flow | −$248.0M | $674.0M | −$150.0M | $156.0M | −$180.0M | $673.0M | −$137.0M | $402.0M |
| Capital expenditure | $51.0M | $28.0M | $43.0M | $68.0M | $52.0M | $24.0M | $54.0M | $74.0M |
| Free cash flow | −$299.0M | $646.0M | −$193.0M | $88.0M | −$232.0M | $649.0M | −$191.0M | $328.0M |
| Dividends paid | — | — | $0 | $0 | — | — | $7.00M | $0 |
| Share buybacks | $0 | $0 | $0 | $0 | — | — | $100.0M | $0 |
From Victoria's Secret's 10-K and 10-Q filings with the SEC; its fiscal year ends in January. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
About Victoria's Secret
Victoria's Secret is an American lingerie, clothing and beauty retailer. Founded in 1977 by Stanford graduate student Roy Raymond and his wife Gaye, the company's five lingerie stores were sold to Les Wexner in 1982. Wexner rapidly expanded into American shopping malls, expanding the company into 350 stores nationally with sales of $1 billion by the early 1990s, when Victoria's Secret became the largest lingerie retailer in the United States.
Source: Wikipedia — Victoria's Secret
- Headquarters
- Reynoldsburg, Ohio From SEC filings, Oct 2026
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