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Victoria’s Secret back to growth
Victoria’s Secret is showing stronger momentum in the second quarter of 2026.
Net sales reached $1.611 billion, up 10% year over year, while comparable sales increased 9%. Adjusted operating income rose to $124 million, compared with $55 million in the same quarter last year.
The more relevant signal for the North American intimate apparel market, however, is what the company is choosing to do with that recovery. Victoria’s Secret says it is increasing investment behind the brand, with more product innovation, strategic marketing, partnerships and campaigns planned for the second half of the year. The program also includes the Angels Among Us docuseries, a larger Victoria’s Secret Fashion Show and holiday activations.
The Q2 results therefore matter beyond the headline numbers. They show a major lingerie player coupling growth with reinvestment, rather than treating the improvement as an end point in itself.
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