Victoria’s Secret & Co. posted a first-quarter sales surprise, beating internal expectations despite persistent retail sector headwinds. The lingerie company reported net sales of US $ 1.35 billion in the three months through 3rd May, beating its previous estimate of US $ 1.30 billion to US $ 1.33 billion.
Though sales were even with last year, comparable sales fell 1%, echoing overall pressure on consumer spending. Yet the company was able to trim losses, recording a net loss of US $ 2 million—a decrease from the US $ 4 million loss of the same quarter last year.
CEO Hillary Super praised the company’s agility in navigating a volatile environment, highlighting strategic investments in brand health, customer experience and product development. “We’ve remained nimble and focused on what matters most,” she said, citing notable performance in the brand’s Beauty category, Pink apparel line, and renewed emphasis on athletic and swimwear.
In spite of the recent interruption by a cyber attack that compelled a temporary website closure, Victoria’s Secret held on to its fiscal year revenue forecast between US $ 6.2 billion and US $ 6.3 billion as a demonstration of confidence in its current turnaround strategy.
