Overview

• Q2 net sales rose 3% to $1.46 billion, topping company guidance and Wall Street expectations.
• Comparable sales increased 4% across Victoria’s Secret and Pink in stores and online, despite a three‑day website outage in May.
• Adjusted EPS came in at $0.33 and adjusted operating income reached $55 million, while GAAP operating income fell to $41 million and net income to $16 million year over year.
• Full‑year net sales guidance was raised to $6.33 billion to $6.41 billion, with adjusted operating income kept at $270 million to $320 million.
• The company now expects about a $100 million tariff impact for 2025 and projects Q3 net sales of $1.39 billion to $1.42 billion with an adjusted operating loss of $35 million to $55 million and an adjusted net loss per share of $0.55 to $0.75.