One year ago, Victoria’s Secret was in free fall.
Then the stock nearly doubled its share price, hitting an all-time high of $80 per share.
Super said then that some of those decisions were made out of fear. “That natural human reaction is to want to stay out of controversy,” she says. As that feature reported, “Victoria’s Secret was so cautious, it stopped bragging altogether—even about being a go-to destination for bra fittings.”
The results are now showing up in the numbers. The company delivered its fourth consecutive quarter of positive comparable sales, with Super citing double-digit growth in new customer acquisition—Gen-Z is buying bras!—and a move toward getting shoppers to pay full price rather than waiting for a markdown, which Super called a “promo-detox” on the earnings call.
“We are reducing promotions and markdowns and replacing promotional offers with compelling emotional messaging,” Super said. “The result is a healthier, more brand-led business.”
CFO Scott Sekella attributed the performance to “higher regular-price selling, reduced promotions, and leveraging buying and occupancy expenses, all despite tariff headwinds.”
The company also raised its full-year adjusted operating income guidance by more than $100 million, now projecting $550 million to $580 million, citing better-than-expected sales and lower tariff rates following court rulings against President Trump’s sweeping duties.
Goldman Sachs analyst Brooke Roach called it “a very strong result,” adding that the bank was “encouraged by the solid top-line performance with strength across all channels including North America stores, Direct, and International.”
Super, a former CEO of Anthropologie and Savage X Fenty who rose through retail ranks from Wet Seal to American Eagle, is the first female CEO of the new public company.
On the earnings call Tuesday, Super noted that her executive team has now been together for roughly a year. “Once you hit that year, you start compounding your contributions,” she said. “We are early innings.
She has otherwise shrugged off the pressure: “You have to remember that none of these things are personal, that it’s business,” she says.
