Victoria’s Secret shares rose between 40% to nearly 50% on June 2, 2026, reaching record highs after the company reported strong quarterly results and increased its annual outlook [1, 2, 3, 4].

In the first quarter of fiscal 2026, Victoria’s Secret posted $1.56 billion in revenue, a 15% rise from the previous year. This marked its fourth consecutive quarter of growth [1, 3, 4]. Adjusted earnings per share came in at 60 cents, double analyst estimates of 30 cents. The company turned a net loss of $2 million the previous year into a net income of $48 million [1, 4].

The company raised its full-year net sales guidance to a range of $7.03 billion to $7.13 billion, up from an earlier forecast of $6.85 billion to $6.95 billion. Adjusted operating income forecasts were also lifted significantly to between $550 million and $580 million, compared to prior guidance of $430 million to $460 million [1, 2, 3, 4].

CEO Hillary Super attributed the strong results to "product innovation, emotionally resonant storytelling and distinct brand projection," highlighting efforts to revive the company’s “sexy” image with less discounting and stronger brand narratives [1, 2, 3, 4]. She said, "Victoria’s Secret, PINK, and Beauty are gaining cultural relevance and expanding their customer files, and we have a strong pipeline of product launches, partnerships, and brand moments ahead" [1]. Super also emphasized the success of “supercharging bras,” with double-digit comparable sales growth in that category, calling bras an “anchor” of the business [2].

Victoria’s Secret has renewed its annual runway show after a six-year break and recently changed its New York Stock Exchange ticker symbol to VSXY to emphasize its “sexy” heritage [1, 3]. The company’s turnaround strategy includes targeting younger shoppers, especially those aged 18 to 24, while maintaining its core base and expanding into beauty, sleepwear, and activewear segments [2, 4].

Despite the upbeat results, Victoria’s Secret expects around $15 million in tariff impacts in the current quarter [1, 3]. About 19% of the company’s publicly available shares are currently shorted, which some analysts say could set the stage for a short squeeze [3]. The company has nearly tripled its share price over the past 12 months [1, 3].

Analyst Dana Telsey said the leadership and strategy changes are showing results, noting "an evolving assortment across brands, supported by improved messaging and brand storytelling" [1].

Victoria’s Secret is scheduled to report its next earnings update at the end of the third quarter of fiscal 2026.