Victoria’s Secret & Co. (NYSE:VSXY) stock rose Thursday after the lingerie retailer reported first-quarter fiscal 2026 results that topped Wall Street expectations and raised its full-year outlook.

Victoria’s Secret Earnings Beat Expectations

The company reported adjusted earnings of 60 cents per share, beating analysts' estimates of 30 cents per share. Revenue increased 15% year over year to $1.56 billion, ahead of the consensus estimate of $1.52 billion.

Total comparable sales climbed 13% during the quarter, reflecting broad-based strength across the business.

By segment, North America store sales increased 11.3% year over year to $802.8 million, direct sales rose 8.4% to $469.4 million, and international sales surged 44.9% to $287.4 million.

During the earnings call, Chief Executive Officer Hillary Super said the company’s brand strength was evident during the Valentine’s Day shopping period, one of its biggest moments of the quarter.

She noted that Victoria’s Secret, PINK and Beauty each delivered double-digit sales growth and generated positive comparable sales across key gifting categories during the holiday.

Profitability Improves

Operating income rose sharply to $76 million, compared with $20 million in the prior-year quarter, as stronger sales and improved execution boosted results.

Victoria's Secret also repurchased 2.2 million shares for $100 million during the quarter under its share repurchase program. The board-approved authorization, announced in March 2024, allows for up to $250 million in buybacks. As of May 2, 2026, the company had $150 million remaining under the program.

Victoria’s Secret Outlook Raised

For the second quarter, Victoria's Secret expects sales of $1.59 billion to $1.615 billion, above analysts' expectations of $1.562 billion.

The company also raised its fiscal 2026 sales outlook to a range of $7.03 billion to $7.13 billion, up from its prior forecast of $6.85 billion to $6.95 billion. The updated guidance is above the consensus estimate of $6.99 billion.

Management said it expects tariff-related headwinds of approximately $15 million during the second quarter.

VSXY Price Action: Victoria’s Secret shares were trading up 39.02% at $75.49 at the time of publication on Tuesday, according to Benzinga Pro data.

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