Victoria’s Secret Surges Ahead in Q3: Revenue Up 9%, Losses Down 43%

Victoria’s Secret’s restructuring plan is starting to pay off. The U.S. company specializing in intimate apparel has closed the third quarter of the current fiscal year with a 9.21% growth in sales and almost halved its losses in the period.

The company, led since last year by Hillary Super (who joined the company from Fenty to relaunch it), ended the third quarter (ended November 1st) with sales of $1.471 billion, compared to $1.347 billion in the same period of 2024.

Along with the recovery in sales, the company also trimmed its bottom line. In the period, Victoria’s Secret’s operating losses amounted to $19.07 million, 59.15% less than twelve months earlier.

At the end of the third quarter, net losses stood at $31.34 million, down 42.76% from $54.75 million in the third quarter of 2024.

Victoria’s Secret has cut by $10 million the impact of tariffs in the whole of 2025

“These results reflect the disciplined execution of our Path to Potential strategy,“ said Super; “building on our third quarter results and strong start to the fourth quarter, we raised our full-year guidance and are well positioned for the holiday season and a strong close to fiscal 2025.

With the third quarter results, the company has raised its full-year guidance, which now calls for sales of up to $6.48 billion, up from the $6.41 billion it previously anticipated.

At the same time, the company anticipates that operating income will be between $350 million and $375 million, including an estimated impact of around $90 million as a result of changes in the U.S. tariff policy, ten million dollars less than before.

In the year-to-date, the company, which operates the Victoria’s Secret and Pink brands, achieved a 3.86% growth in sales, up to 4,283 million dollars. The company’s operating income has stagnated in the first nine months, up to $41.67 million. The company closed the first nine months with a loss of $22.78 million, 18.85% less than twelve months earlier.

At the end of the third quarter, Victoria’s Secret operated a network of 1,404 stores, 792 of its own, 545 through partners and 63 through a joint venture in China. Of the group’s total store network, 768 are located in the United States.