$VSXY

Victoria's Secret & Co.

CIK:0001856437|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2026	Aug. 02, 2025	Aug. 01, 2026	Aug. 02, 2025
Income Statement [Abstract]
Net Sales	$ 1,611	$ 1,459	$ 3,170	$ 2,812
Costs of Goods Sold, Buying and Occupancy	(852)	(940)	(1,826)	(1,819)
Gross Profit	759	519	1,344	993
General, Administrative and Store Operating Expenses	(502)	(478)	(1,011)	(932)
Operating Income	257	41	333	61
Interest Expense	(15)	(18)	(30)	(35)
Other Income	6	1	9	4
Income Before Income Taxes	248	24	312	30
Provision for Income Taxes	60	6	67	9
Net Income	188	18	245	21
Less: Net Income Attributable to Noncontrolling Interest	5	2	14	7
Net Income Attributable to Victoria’s Secret & Co.	$ 183	$ 16	$ 231	$ 14
Net Loss Per Basic Share Attributable to Victoria's Secret & Co. (in dollars per share)	$ 2.29	$ 0.20	$ 2.87	$ 0.18
Net Loss Per Diluted Share Attributable to Victoria's Secret & Co. (in dollars per share)	$ 2.18	$ 0.20	$ 2.73	$ 0.18

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Aug. 01, 2026	Aug. 02, 2025
Operating Activities:
Net Income	$ 245	$ 21
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization	105	125
Share-based Compensation Expense	29	29
Deferred Income Taxes	13	3
Changes in Assets and Liabilities:
Accounts Receivable	15	(4)
Inventories	(76)	(100)
Accounts Payable, Accrued Expenses and Other	(63)	19
Income Taxes	8	(40)
Other Assets and Liabilities	(11)	(47)
Net Cash Provided by Operating Activities	265	6
Investing Activities:
Capital Expenditures	(128)	(111)
Net Cash Used for Investing Activities	(128)	(111)
Financing Activities:
Repurchases of Common Stock	(100)	0
Borrowings from Asset-based Revolving Credit Facility	55	245
Repayments of Borrowings from Asset-based Revolving Credit Facility	(55)	(170)
Tax Payments related to Share-based Awards	(30)	(10)
Dividends Paid	(7)	0
Proceeds from Stock Option Exercises	3	1
Payments of Long-term Debt	(2)	(2)
Other Financing Activities	0	3
Net Cash Provided by (Used for) Financing Activities	(136)	67
Effects of Exchange Rate Changes on Cash and Cash Equivalents	3	(1)
Net Increase (Decrease) in Cash and Cash Equivalents	4	(39)
Cash and Cash Equivalents, Beginning of Period	518	227
Cash and Cash Equivalents, End of Period	$ 522	$ 188

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 01, 2026	Jan. 31, 2026	Aug. 02, 2025
Current Assets:
Cash and Cash Equivalents	$ 522	$ 518	$ 188
Accounts Receivable, Net	171	186	166
Inventories	1,146	1,071	1,058
Other	123	108	127
Total Current Assets	1,962	1,883	1,539
Property and Equipment, Net	760	731	777
Operating Lease Assets	1,685	1,631	1,612
Goodwill	367	367	367
Trade Names	246	246	278
Other Intangible Assets, Net	0	0	85
Deferred Income Taxes	53	65	22
Other Assets	82	90	75
Total Assets	5,155	5,013	4,755
Current Liabilities:
Accounts Payable	489	493	480
Accrued Expenses and Other	614	673	600
Current Debt	4	4	4
Current Operating Lease Liabilities	282	295	258
Income Taxes	54	42	3
Total Current Liabilities	1,443	1,507	1,345
Deferred Income Taxes	5	5	14
Long-term Debt	971	971	1,048
Long-term Operating Lease Liabilities	1,642	1,576	1,564
Other Long-term Liabilities	43	44	74
Total Liabilities	4,104	4,103	4,045
Shareholders’ Equity:
Preferred Stock — $0.01 par value; 10 shares authorized; 0 shares issued and outstanding	0	0	0
Common Stock — $0.01 par value; 1,000 shares authorized; 80, 80, and 80 shares issued and outstanding, respectively	1	1	1
Paid-in Capital	341	345	320
Accumulated Other Comprehensive Income	4	6	2
Retained Earnings	644	504	357
Total Victoria’s Secret & Co. Shareholders’ Equity	990	856	680
Noncontrolling Interest	61	54	30
Total Equity	1,051	910	710
Total Liabilities and Equity	$ 5,155	$ 5,013	$ 4,755